Indian-origin Laxman Narasimhan has been named Starbucks‘ new CEO and will succeed Howard Schultz. On October 1, Laxman Narasimhan will start working for the coffee giant.
Until April 2023, Howard Schultz will continue as interim CEO, following which he will resume as a member of the Starbucks Board of Directors.
Mellody Hobson, Independent Starbucks Board of Director’s chair, in a statement called Laxman Narasimhan an “inspiring leader”.
“His deep, hands-on experience driving strategic transformations at global consumer-facing businesses makes him the ideal choice to accelerate Starbucks’ growth and capture the opportunities ahead of us,” Mellody Hobson added.
Present CEO Howard Schultz said, “When I learned about Laxman’s desire to relocate, it became apparent that he is the right leader to take Starbucks into its next chapter. He is uniquely positioned to shape this work and lead the company forward with his partner-centered approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets.”
Laxman Narasimhan will relocate from London to the Seattle area and start working for Starbucks as the new CEO on October 1.
Who Is Laxman Narasimhan?
- Laxman Narasimhan joined Reckitt in September 2019 and became the first outsider to hold the position of CEO since the company’s founding in 1999
- At PepsiCo, Laxman Narasimhan has held a number of executive positions, including the global chief commercial officer
- Laxman Narasimhan previously held the positions of CEO of PepsiCo Latin America and CFO of PepsiCo Americas Foods
- Laxman Narasimhan also served as CEO of PepsiCo’s operations in Europe, Sub-Saharan Africa, and Latin America
- Laxman Narasimhan was a senior partner at McKinsey & Company prior to this
Image Credits: PepsiCo.com