UPDATE: September 17, 2024: This article has been updated with additional comments from Starbucks and Michael Conway.
Dive Brief:
- Starbucks North America CEO Michael Conway will retire on Nov. 30, according to a filing with the U.S. Securities and Exchange Commission on Monday.
- Conway held the North American CEO post since April, when the chain created the role after eliminating its chief marketing officer position and announcing it was adding regional CEOs.
- Conway’s departure is the first major executive change since Brian Niccol assumed control of the company last week. Starbucks will not fill the position after he leaves, but the company is looking for a global chief brand officer to oversee digital initiatives, marketing, product, consumer insights, creative efforts and store design, the chain wrote in an email to Restaurant Dive.
Dive Insight:
Conway’s departure is the latest executive shakeup at the embattled coffee giant, which is on its fourth CEO since 2022. Conway spent several months discussing the retirement with his family, and decided that Niccol’s accession marked a good point of departure, the company said.
“Seeing the energy and enthusiasm for Brian’s early vision, I could not think of a better time to begin my transition towards retirement,” Conway said in an emailed statement.
The company has struggled to find steady C-suite leadership since Kevin Johnson retired in 2022 and was temporarily replaced by former CEO Howard Schultz. During Schultz’s interim tenure, the chain dissolved its chief operating officer role and North American president Rossann Williams departed her position.
The initial appointment of Conway as North America CEO was part of an effort to give regional leadership more flexibility and responsibility. North American results continued to suffer, however, with the chain’s U.S. comparable traffic down 6% in Q3.
Under new CEO Brian Niccol, Starbucks is focusing on improving in-store experience in North America. Niccol framed that as a way to return to the company’s coffeehouse roots, while balancing this brand identity with technological changes.
Sara Trilling, a long-tenured Starbucks executive who has served as its North American president since Rossann Williams left that post in 2022, will take over Conway’s responsibilities.