Starbucks Corporation SBUX announced in a regulatory filing on Wednesday that its ex-Chief Operating Officer, Troy Alstead, will not return to the company following a year-long unpaid leave.
According to CNBC, Alstead was considered to be Starbuck's No. 2 executive and an eventual replacement to its current CEO, Howard Schultz. He joined the company in 1992 and held various senior leadership positions until he requested an extended sabbatical last year to spend more time with his family.
Starbucks didn't offer any other details on the resignation other than confirming Alstead's retirement from the company.
Starbucks named in January Kevin Johnson, a former CEO of Juniper Networks, Inc. and member of the board JNPR as COO.
Shares of Starbucks were trading lower by 0.15 percent at $59.95 early Wednesday morning.
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