Starbucks's North America CEO, Hired in April, Plans to Retire — 2nd 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, 58, informed the coffee chain of his decision on Thursday, according to filing with the Securities and Exchange Commission on Monday. He was named to the position in April, having most recently served as the company's group president of international and channel development.

The company said it won't fill the North American CEO role. Conway will stay on as an executive advisor through November to assist with transition, and North American President Sara Trilling will continue to lead its retail operations.

"These changes are meant to make things clearer, help different parts of the company work better together, speed up decision-making and support everyone in doing their best for our store partners and customers," the company said.

Conway's retirement notice comes just over a month after the Seattle company appointed Brian Niccol 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.

Under Niccol's leadership, the company has launched a search for a global chief brand officer to oversee product, marketing, digital, customer insights, creative and store concepts.

Starbucks in recent years has struggled with operations at its cafes, where complex drink orders have lent 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 from Howard Schultz, the former chief executive who turned the once-local coffee chain into a global icon, over its operations.

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

(END) Dow Jones Newswires

September 16, 2024 19:28 ET (23:28 GMT)

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