New Chief Operating Officer at Starbucks

Howard Schultz, ceo of Starbucks Corp. (Seattle), has announced he will hand over day-to-day operations of the company.

The new chief operating officer, effective February 3, will be current cfo Troy Alstead.

Schultz said he’ll focus more on “next-generation retailing,” digital and mobile payments, the company’s loyalty program and electronic commerce. He has been ceo since 2008, when he returned to the company to slow down its rapid expansion and help it through the recession.

Alstead, who will continue to report to Schultz, has worked for Starbucks for 22 years.