Starbucks chief financial officer (CFO) and executive vice-president (EVP) Scott Maw has decided to retire effective 30 November this year.

Following retirement from his four-year CFO and EVP role, Maw will continue to support the transition in a senior consultant role through March 2019.

The global coffeehouse chain has launched an external search for a new CFO to succeed Maw.

“As we enter our next phase of continued growth, I am confident in the finance team Scott has developed.”

The news follows just days after Howard Schultz stepped down as CEO and chairman of Starbucks, a position he held for four decades.

Starbucks chief financial officer and president Kevin Johnson said: “I am grateful for the contributions Scott has made over the past seven years that led to the unprecedented growth of Starbucks.

“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.”

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Prior to the role of CFO, Maw served as the corporate finance senior vice-president at the coffee chain, overseeing corporate finance including accounting, tax and treasury. He joined the company as the global controller in 2011.

Maw said: “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.

“I have the utmost confidence in Starbucks’ leadership team and Kevin’s ability to drive continued growth and success in the future.”