Starbucks loses another top executive MG Photography

Starbucks loses another top executive

CFO Scott Maw’s departure follows exit of Howard Schultz

Starbucks is losing another corporate leader.

The Seattle-based chain said CFO Scott Maw is retiring in November. The seven-year Starbucks employee has served as Starbucks’ top financial officer since 2014. Prior to that, he was senior vice president of corporate finance.

Starbucks said it is launching an immediate external search for Maw’s replacement.

After he retires, Starbucks said Maw will stick around in a “senior consultant role” through March 2019.

“I am grateful for the contributions Scott has made over the past seven years that led to the unprecedented growth of Starbucks,” CEO Kevin Johnson said in a statement.  

“As we enter our next phase of continued growth, I am confident in the finance team Scott has developed and am appreciative of his willingness to support through the transition into new leadership.”

Maw said he is “proud to have been part of such a special company.”

He will retire Nov. 30.

“I have the utmost confidence in Starbucks leadership team and Kevin’s ability to drive continued growth and success in the future,” he said in a statement.

The announcement comes during a shaky time for the brand. Howard Schultz, the visionary who built Starbucks into a global empire, was slated to step down as executive chairman and member of the board of directors on June 26.

The coffeehouse company, which has more than 28,000 locations around the world, was rocked this spring by a racial profiling scandal that forced the chain to temporarily halt new marketing strategies.  

Contact Nancy Luna at [email protected] 

Follow her on Twitter: @FastFoodMaven

 

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