(Bloomberg) -- Starbucks Corp. said that Javier Teruel, the coffee chain’s longest-serving board member, resigned earlier this week, effective immediately. 

Teruel, chairman of Alta Growth Capital and a former vice chairman of Colgate-Palmolive Co., had been a director with Starbucks since 2005. He resigned because he only wanted to stay with the company through the succession planning of the next chief executive officer, said a person familiar with the matter. 

Starbucks last month hired Laxman Narasimhan, formerly CEO of Reckitt Benckiser Group Plc, to assume the company’s top post from interim leader Howard Schultz. Narasimhan will become CEO on April 1. 

A message for Teruel left at Alta Growth Capital wasn’t returned. 

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