Starbucks is replacing its top finance executive, plucking Cathy Smith from the Nordstrom department-store chain, as the coffee group embarks on a turnaround.Smith will take over as CFO in the next month,

(Reuters) -Starbucks named Nordstrom's Cathy Smith as its finance chief on Tuesday, hiring a retail industry veteran to aid CEO Brian Niccol's efforts to turn around the coffee giant.

The global coffee chain is facing growing competition overseas, labor issues in the U.S. and dropping consumer sentiment globally — an issue it has addressed with its Back to Starbucks campaign.