By Josh Beckerman
Starbucks Corp. Chief Operating Officer Troy Alstead will take
an "extended unpaid leave."
His last day in his current role will be March 1, the coffee
company said Thursday.
Mr. Alstead and Starbucks Chief Executive Howard Schultz will
discuss transition plans in more detail during the company's
earnings call scheduled for Jan. 22.
In January, Starbucks said Mr. Schultz would expand his role in
product innovation and digital retailing as part of a shuffling of
senior executives aimed largely at adjusting to technology-driven
shifts in the industry.
Mr. Alstead, then the chief financial officer, was named chief
operating officer and placed in charge of day-to-day operations. He
has been with Starbucks for 23 years.
Just over a month ago, the Seattle-based company detailed a
five-year plan that includes doubling sales from its food business
and becoming more of an evening food-and-wine destination.
Starbucks's other growth plans include new store formats like
"express" locations and mobile-payment initiatives that will
provide faster service.
In late trading, Starbucks shares were down 0.6% to $82.02.
Write to Josh Beckerman at josh.beckerman@wsj.com
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