(Reuters) - Starbucks Corp (SBUX.O) said on Thursday Chief Financial Officer Scott Maw will retire at the end of November, sending its shares down 2 percent in morning trade.
FILE PHOTO: Starbucks CFO Scott Maw speaks during the company's annual shareholder's meeting in Seattle, Washington March 18, 2015. REUTERS/David Ryder
The U.S. coffee chain said it has launched an external search for a new chief financial officer to replace Maw, 50, who has been in the role since Feb. 2014.
Following his retirement, Maw will transition to a senior consultant role with the company until March 31, 2019, earning $250,000 per month, Starbucks said in regulatory filing here.
Reporting by Siddharth Cavale in Bengaluru; Editing by Shailesh Kuber
