Starbucks COO to take leave of absence

Starbucks Chief Operating Officer Troy Alstead is taking an extended unpaid leave from Starbucks. The company made the announcement at the end of the day Thursday.

The news release did not say why Alstead, who has been with the company for 23 years, was leaving.

CNNMoney reported Howard Schultz, Starbucks chairman and CEO, said that he and Alstead would discuss the company’s transition plans when it reports its quarterly earnings on Jan. 22. Alstead’s last day will be March 1.

Starbucks shares fell over 3 percent on Friday after the news.

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