Starbucks announced Thursday that Scott Maw, executive vice president and chief financial officer, is retiring effective November 30. A seven-year employee, Maw has been in the role since February 2014.
Starbucks has launched an external search for a new CFO. After his retirement, Maw will continue to support the transition 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,” says Kevin Johnson, Starbucks president and chief executive officer. “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 joined Starbucks as global controller in 2011. Before his role as CFO, he served as senior vice president of Corporate Finance where he was responsible for corporate finance, including accounting, tax and treasury.
“I am proud to have been part of such a special company and to have experienced Starbucks remarkable growth and expansion during my seven years here,” says Maw. “I have the utmost confidence in Starbucks leadership team and Kevin’s ability to drive continued growth and success in the future.”
Starbucks said it is expecting 1 percent same-store sales growth globally in Q3, which would mark the brand’s weakest comps growth in nine years.