Jack in the Box adds a former Starbucks exec to its board

Jack in the Box adds a former Starbucks exec to its board

Mon, September 21, 2026 at 6:11 PM GMT+3 2 min read

• JACK +0.45%
• SBUX +0.22%

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Jack in the Box on Monday named former Starbucks CFO Rachel Ruggeri to its board as the fast-food chain continues its effective overhaul of its board and leadership structure.

Michael Murphy, who has been on the company's board since 2002, is retiring and will not stand for reelection, Jack in the Box said.

The San Diego-based company also said that it has extended a cooperation agreement with the activist fund Greenwood Investors, which has worked with Jack in the Box to make changes to its board of directors and management.

The appointment of Ruggeri comes weeks after Jack in the Box appointed former Taco Bell Chief Marketing Officer Taylor Montgomery its president and CEO-in-waiting. Montgomery is expected to join the company's board within the next 12 months.

Federal regulatory filings over the weekend revealed what it took for Jack in the Box to bring in Montgomery, including a $220,000 sign-on bonus and an annual salary of $700,000. He is also eligible to receive $1.5 million in stock, plus an annual stock grant of $500,000, which is expected to increase to $1 million in 2028, according to the filing.

Jack in the Box has been undergoing a series of changes since last year.

The company named former Taco Bell CEO Mark King chairman. He earlier this year was named interim CEO after the chain dismissed Lance Tucker. Katelyn Zborowski was named chief marketing officer.

Jack in the Box has also made other changes to the board, including the addition of former P.F. Chang's CEO Eduardo Luz in April.

Ruggeri has more than 30 years of experience in finance. She spent more than two decades at Starbucks, most recently as CFO. She previously worked in the consumer goods industry.

"Over the past year, Jack in the Box's board has made substantial progress in refreshing its composition, adding relevant expertise, and increasing alignment with shareholders," Chris Torino, partner with Greenwood, said in a statement. He called Ruggeri "a strong addition to the board, and we are excited for Taylor Montgomery's planned transition to CEO and future appointment to the board."

Ruggeri joins Jack in the Box at a crucial time. Same-store sales have fallen nine of the past 10 quarters. The company's stock is also down 30% over the past year, and 87% over the past five years.

Yet it has shown some signs of progress. Sales were at their best in nearly two years last quarter and the company said they turned positive late in the period and in the current quarter.

Ruggeri "brings an exceptional combination of company finance leadership and restaurant expertise," King said.