Who could be in the running

Starbucks‘ board is searching for the coffee giant’s next CEO after Kevin Johnson announced his plan to retire in April.

Former CEO Howard Schultz will step in as interim chief executive for his third stint in the top job, but he’s only expected to stick around until autumn. In the meantime, the board has said it already has a slate of candidates lined up, according to Chairwoman Mellody Hobson.

It’s not immediately clear who will be Johnson’s permanent successor. Whoever takes the reins will inherit a business still recovering from the pandemic, particularly in China, and facing a swelling effort by baristas to unionize.

The company is also upgrading its U.S. cafes to match how customers want to order and pick up their coffees and striving to meet ambitious sustainability goals.

“We’re looking at all possibilities, so we just want the player and we will leave no stone unturned,” Hobson said on CNBC’s “Squawk Box” on Wednesday.

Here’s who is likely under consideration to be the next Starbucks CEO:

Starbucks has traditionally used its chief operating officer role as a training ground for future CEOs. Johnson served as COO under Schultz for two years before becoming CEO. Former COO Roz Brewer, once thought to be the heir apparent, departed the company in early 2021 to become chief executive of Walgreens Boots Alliance, which is in the middle of a turnaround.

John Culver has served as chief operating officer and president of North America since late June. A Starbucks veteran for two decades, he has experience working under Schultz, who will likely have a significant say in the CEO appointment. Culver is also on the boards of Columbia Sportswear and Kimberly-Clark.

But the Starbucks board may be looking for someone with a little more experience.

Cowen analyst Andrew Charles put forth former Starbucks COO and CFO Troy Alstead as one of his picks for Johnson’s successor.

“We argue former Starbucks COO (and CFO) Troy Alstead, who was beloved by the investment community, ought to be on the short list for the role,” Charles wrote in a note to clients on Wednesday.

Alstead resigned from the company in 2016 after a lengthy leave of absence and more than two decades with the coffee chain. At the time of his retirement, he told the Puget Sound Business Journal that he wasn’t going back to the corporate world. Johnson was his successor.

Starbucks could also try to lure Brewer back into the fold, this time for the top job. In comparison to turning around Walgreens’ struggling business, Starbucks would offer relatively less stress.

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