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Company has initiated search for cfo to help lead company into next
phase of growth
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Maw will remain in role through November and support transition of new
cfo
SEATTLE--(BUSINESS WIRE)--
Starbucks Corporation (NASDAQ: SBUX) today announced that Scott Maw,
executive vice president and chief financial officer, is retiring
effective November 30, 2018. A seven-year partner (employee), Maw has
been in the role since February of 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,” said 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. Prior to 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,” said Maw. “I have the utmost confidence in Starbucks
leadership team and Kevin’s ability to drive continued growth and
success in the future.”
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically
sourcing and roasting high-quality arabica coffee. Today, with stores
around the globe, the company is the premier roaster and retailer of
specialty coffee in the world. Through our unwavering commitment to
excellence and our guiding principles, we bring the unique Starbucks
Experience to life for every customer through every cup. To share in the
experience, please visit us in our stores or online at http://news.starbucks.com
or www.starbucks.com.
Forward Looking Statements
Certain statements contained herein are “forward-looking statements”
within the meaning of the applicable securities laws and regulations.
Generally, these statements can be identified by the use of words such
as “anticipate,” “expect,” “believe,” “could,” “estimate,” “feel,”
“forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,”
“will,” “would,” and similar expressions intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. These statements are based upon
information available to Starbucks as of the date hereof, and Starbucks
actual results or performance could different materially from those
stated or implied due to risks and uncertainties associated with its
business. These risks and uncertainties include, but are not limited to,
fluctuations in U.S. and international economies and currencies, our
ability to preserve, grow and leverage our brands, potential negative
effects of incidents involving food or beverage-borne illnesses,
tampering, adulteration, contamination or mislabeling, potential
negative effects of material breaches of our information technology
systems to the extent we experience a material breach, material failures
of our information technology systems, costs associated with, and the
successful execution of, the company’s initiatives and plans, the
acceptance of the company’s products by our customers, the impact of
competition, coffee, dairy and other raw materials prices and
availability, the effect of legal proceedings, and other risks detailed
in the company filings with the Securities and Exchange Commission,
including the “Risk Factors” section of the Starbucks Annual Report on
Form 10-K for the fiscal year ended October 1, 2017. The company assumes
no obligation to update any of these forward-looking statements.
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Source: Starbucks Corporation