Starbucks Corp. has lost one of its veteran executives.
The coffee giant revealed in a regulatory filing that former COO Troy Alstead will not return to the company following a year-long unpaid leave. Alstead, whose resignation was effective February 29, 2016, had long been seen as the company’s number two executive and an eventual replacement to current CEO Howard Schultz.
Alstead, who joined Starbucks in 1992, held various senior positions in the company, including serving as CFO and group president of the global business services unit. In February 2014, he was tapped as COO. Starting in March 2015, he went on a “sabbatical” leave to spend more time with his family.
In January, Starbucks tapped Kevin Johnson, a former CEO of Juniper Networks and Starbucks board member, as COO.