Starbucks's North American CEO Conway to Retire in November — Update

By Connor Hart

Michael Conway, Starbucks's North American chief executive, plans to retire Nov. 30 after only about eight months in the role.

Conway informed the coffee chain of his decision on Thursday, according to a Monday filing with the Securities and Exchange Commission. He was named to the position in April.

The company didn't name a successor or announce a search for a new North American CEO.

Since joining Starbucks in 2013, Conway has held several positions. Prior to being North American CEO, he served as group president of international and channel development where he was responsible for leading the chain's retail growth and operations in 80 markets across the globe.

Conway's retirement notice comes just over a month after the Seattle company appointed Brian Niccol as its top executive, an abrupt leadership change amid an effort to turn around its business and contend with activist investors.

Niccol, the former Chipotle CEO who reported for his first day of work earlier this month, succeeded Laxman Narasimhan, who stepped down as CEO and board director after roughly 16 months on the job.

Starbucks has struggled in recent years with operations at its cafes, where complex drink orders have led to long lines of customers and overwhelmed baristas. At the same time, quickly rising prices, employee turnover and declining traffic have hurt the company's bottom line.

This year, the company has faced activist investors and public criticism about its operations from from Howard Schultz, the former chief executive who turned the once-local coffee chain into a global icon.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 16, 2024 18:51 ET (22:51 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.