Starbucks CFO Scott Maw to retire in November

• Starbucks CFO and executive VP Scott Maw will retire at the end of November.
• The coffee chain has begun a search for its next CFO.
• After his retirement, Maw will assume the role of a senior consultant to help with the transition.

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Starbucks Chief Financial Officer Scott Maw speaks during the Starbucks annual shareholders meeting in 2015. 

Starbucks said on Thursday that Scott Maw, its CFO and executive vice president, will retire on November 30.

The coffee chain already has begun an external search for Maw's replacement.

"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,” Kevin Johnson, the president and CEO of Starbucks, said in a statement.

Maw began working for Starbucks in 2011 and was appointed CFO in February 2014. After his retirement, he will assume a role as a senior consultant for the company through March 2019.