January 8, 2015 / 9:45 PM / 3 years ago

Starbucks COO Alstead taking 'extended unpaid leave'

People line up inside "Dumb Starbucks", a parody store of the Starbucks Coffee chain, in Los Angeles, California February 10, 2014. REUTERS/Jonathan Alcorn

LOS ANGELES (Reuters) - Starbucks Corp (SBUX.O) on Thursday said Chief Operating Officer Troy Alstead, who as chief financial officer helped lead the coffee chain’s massive and successful restructuring, is taking an extended unpaid leave from the coffee chain to spend more time with his family.

Alstead has been with Starbucks for 23 years and his last day in his current role will be March 1, the company said in a statement.

“This was a personal decision to take time with his family,” Starbucks spokesman Jim Olson told Reuters.

Olson said Alstead had planned to take a similar break in 2008 but delayed it at the urging of Chief Executive Howard Schultz who asked the then-CFO to help turn around the company after the recession sent Starbucks business into a swoon.

“They decided that right now is the right time to take that break,” Olson said.

Starbucks said Alstead and Schultz will detail transition plans on the company’s quarterly earnings call, scheduled for Jan. 22.

Reporting by Lisa Baertlein in Los Angeles; Editing by James Dalgleish

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