Starbucks is morphing into a tech company

Starbucks announced on its hiring Kevin Johnson, former CEO of Juniper Networks, to be its new chief operating officer.

According to CNNMoney, “This is a sign that Starbucks is serious about becoming a mobile payment giant that can compete with the likes of Apple, PayPal, Google and former Starbucks partner Square.”

With the announcement of Troy Alstead, former Starbucks chief operating officer, taking an unpaid leave of absence, the chatter began on who would soon fill his spot.

Johnson is a veteran of Microsoft and IBM. During a conference call Thursday, Howard Shultz, CEO, praised Johnson’s mobile and digital expertise.

Starbucks shares raised 6 percent Friday after the company reported a 13 percent increase in sales during the latest quarter, CNNMoney reports.

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