In a surprising move, Michael Conway, Starbucks (NASDAQ:SBUX) North America CEO, has resigned after only six months in the role.
What Happened: Conway, who took on the position in April, informed the company of his decision last week, as per a Securities and Exchange Commission filing. He will remain with the company until November 30 to assist with the leadership transition, concluding his 11-year tenure at Starbucks, Business Insider reported on Tuesday.
Don’t Miss:
Before his North American CEO role, Conway served as group president of international and channel development and president of Starbucks Canada. His appointment was part of a reorganization effort by former CEO Laxman Narasimhan, Bloomberg noted in March.
Rather than appointing a new CEO for North America, Starbucks announced that Sara Trilling, the company’s North American president, will oversee retail operations across the region. Trilling has been with Starbucks for 22 years and previously managed 3,500 stores as senior vice president of its north division.
See Also: A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.
The company aims to enhance decision-making efficiency by streamlining its leadership structure, The Wall Street Journal reported. Conway’s departure follows other significant leadership changes, including the recent appointment of Brian Niccol, former CEO of Chipotle, as Starbucks’ new top executive.
Operational challenges have affected Starbucks’ North American stores, with complex drink orders, rising prices, and varying foot traffic impacting staff and profitability. Niccol plans to revamp operations and focus on customer experience, he stated last week.
Trending: The startup behind White Castle’s favorite Robot Fry Cook announces a next-generation fast food robot – Here’s how to get a share for under $5 today.
Why It Matters: This leadership change comes amid a series of strategic shifts at Starbucks. In March, the company announced a new geographic leadership structure to support global functions, appointing Conway as North America CEO to spearhead this initiative.
In August, the appointment of Brian Niccol as the new CEO boosted Starbucks’ valuation by over $15 billion in just one day. Niccol, known for his successful tenure at Chipotle, aims to steer Starbucks through its current challenges and enhance customer experience.
On his second day as CEO, Niccol outlined his vision to reconnect Starbucks with its community coffeehouse roots. He emphasized the need for comfortable seating and a clear distinction between “to-go” and “for-here” services to improve the in-store experience.
Read Next:
Image by Şahin Sezer Dinçer from Pixabay.
“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Starbucks North America CEO Michael Conway Quits After Just 6 Months In The Position originally appeared on Benzinga.com
