Indian-origin Laxman Narasimhan is moving from London to Seattle, where Starbucks is headquartered and will start working for the company from 1st October.
Starbucks has appointed a former executive from PepsiCo as its new CEO. The world’s largest coffee corporation, Starbucks, said that Laxman Narasimhan, of Indian descent, has been named the organization’s next CEO. He will start working for Starbucks on October 1 in place of Howard Schultz, who will remain interim CEO through April 2023.
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As Starbucks’s CEO, Mr. Narasimhan will step into the shoes of Howard Schultz, who replaced Kevin Johnson last April after the former stepped down.
According to Mr. Schultz in an interview, we were seeking somebody who was a faithful servant leader and had a strong sense of humility. First and foremost, Laxman is a genuine servant leader.
More about new Starbucks Ceo Laxman Narasimhan
The 55-year-old Mr. Narasimhan most recently served as CEO of Reckitt, a consumer health, hygiene, and Nutrition Company based in the United Kingdom that produces goods including Lysol cleaner and Enfamil formula. Mr. Narasimhan’s unexpected resignation had been announced by Reckitt earlier on Thursday. The news caused a 5% decline in Reckitt’s stock.
Earlier, Mr. Narasimhan served in several executive positions at PepsiCo, including the global chief commercial officer. As the company’s CEO, he also managed operations in Latin America, Europe, and Sub-Saharan Africa.
Additionally, Mr. Narasimhan worked as a senior partner at the consulting firm McKinsey & Co., where he concentrated on the division’s consumer, retail, and technology businesses in the United States, Asia, and India.
Regarding his academic credentials, Narasimhan has a mechanical engineering degree from the University of Pune in India and a master’s degree in German and international studies from The Lauder Institute at the University of Pennsylvania. The Wharton School of the University of Pennsylvania also awarded him a master’s degree in business administration.
According to Schultz, Mr. Laxman Narasimhan will begin working for the organisation in October. Before becoming CEO, he will spend the following few months becoming “immersed” in the Starbucks culture by visiting locations worldwide and even working behind the counter. He’ll improve us, Mr. Schultz remarked.