business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  From CNBC:

"Starbucks Chief Operating Officer John Culver is departing the company after two decades with the coffee chain, as part of a restructuring that will eliminate his role.

"His exit comes in the middle of a broader executive reshuffling at Starbucks. Former CEO Kevin Johnson retired earlier this year, leading Howard Schultz to return to the helm of the company as interim chief executive until long-term successor is named.

"Effective Oct. 3, Culver will step down from his current role and become an executive advisor until he leaves the company at the end of the year.

"Starbucks said it will eliminate the role of chief operating officer, with many of Culver’s direct reports being managed by Schultz. Frank Britt, the company’s chief strategy and transformation officer, will supervise the rest, including the global supply chain and technology divisions."

The CNBC story points out that as COO, Culver was seen by some as a likely contender for the CEO job, but that Schultz has said the company is looking for his eventual successor on the outside.  Which may mean that Culver was happy to move on.  What's the over-under on how quickly he becomes a CEO elsewhere?

Though, as Schultz consolidates his power, it is hard to imagine that he's going to be leaving the company anytime soon - no matter what he says.

For some reason, this is the scene that came to mind as I was reading this story: