June 28, 2018 / 2:37 PM / a year ago

Starbucks CFO Scott Maw to retire in November, shares fall

Starbucks CFO Scott Maw speaks during the company's annual shareholder's meeting in Seattle, Washington March 18, 2015. REUTERS/David Ryder/Files

(Reuters) - Starbucks Corp said on Thursday Chief Financial Officer Scott Maw will retire at the end of November, sending its shares down 2 percent in morning trade.

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.

Reporting by Siddharth Cavale in Bengaluru; Editing by Shailesh Kuber

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