The first quarter saw "meaningful, sequential improvements in quarterly financial results despite ongoing business disruption from the pandemic."
The coffee chain posts a third straight quarter of accelerating sales growth, indicating its streamlining efforts are paying off.
The veteran finance executive has extensive restaurant experience, including nearly four years as CFO at Yum Brands.
The coffee chain's shares dip more than 3% on news that Scott Maw is leaving after just four years as finance chief.
The coffee giant's U.S. store traffic was flat in the second quarter despite heavy Happy Hour discounting.
The coffee chain says the federal tax overhaul "accelerated" the new compensation package, with $120 million going toward a second wage hike this year.
The coffee giant is being "squeezed by competitors ranging from boutique coffee sellers to lower-price rivals including McDonald's."
