Schultz-Era Starbucks CEO Retires, New CEO Brian Niccol Seeks Rebirth (Video)

A longtime Starbucks (SBUX) executive is retiring, and CEO Brian Niccol is trying to turn around the struggling coffee chain.

On Monday, Michael Conway, 58, CEO of Starbucks North America, announced plans to retire. He will remain with the company as an executive adviser through the end of November.

In a statement to Yahoo Finance, Conway says he sees “the energy and enthusiasm for Brian’s early vision” and “couldn’t imagine a better time to begin my retirement.”

The company said the decision was made before the CEO change. Niccol officially took over a week ago, after former CEO Laxman Narasimhan resigned and CFO Rachel Ruggeri served as interim CEO. Conway was named to the newly created position in April when Narasimhan’s team eliminated the global chief marketing officer position.

Following Conway’s retirement, the company will eliminate the CEO position in North America and create a chief brand officer position, for which it is actively recruiting. The position will oversee store concepts, product, marketing, digital and customer insights, and creative.

Sara Trilling, serving as president of Starbucks North America, will remain in her current role and report directly to Niccol.

Niccol, the former CEO of Chipotle (CMG), recently penned an open letter to employees and customers in which he admitted the coffee giant is “loved” but has “distant” from its core.

In the United States, stores “don’t always deliver. It can feel transactional, the menu can seem overwhelming, the products are inconsistent, the wait is too long, the handover is too hectic,” he said.

U.S. same-store sales fell 2% last quarter.

Niccol said the initial focus will be on the United States, but Starbucks is looking for growth around the world, including the Middle East, where the company will “work to dispel misconceptions about our brand.”

SEATTLE, WA - MARCH 18: Starbucks President of Global Channel Development Michael Conway speaks during the Starbucks annual stockholders meeting on March 18, 2015 in Seattle, Washington. The company announced a 2-for-1 stock split, the sixth in its history, during the meeting. (Stephen Brashear/Getty Images) — SEATTLE, WA – MARCH 18: Starbucks President of Global Channel Development Michael Conway speaks during the Starbucks annual stockholders meeting on March 18, 2015 in Seattle, Washington. The company announced a 2-for-1 stock split, the sixth in its history, during the meeting. (Stephen Brashear/Getty Images) (Stephen Brashear via Getty Images)

Conway joined the team in 2013 during Howard Schultz’s second term as CEO. He has held numerous positions, including Starbucks Canada, Starbucks licensed stores in the U.S. and Latin America, and Starbucks global channel development.

As head of global channel development, Conway oversaw key growth drivers for the company, including the expansion into the grocery market with Keurig K-Cups (KDP).

Conway also serves on the board of directors of McCormick (MKC), a position he has held since 2015.

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Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on Twitter at @Brooke DiPalma or email her at [email protected].

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