Who is Laxman Narasimhan, coffee giant Starbucks' new Indian-origin CEO?
Mellody Hobson, chair of the independent Starbucks Board of Directors, described Laxman Narasimhan as an "inspiring leader" in a statement. Laxman Narasimhan will succeed Howard Schultz. On October 1, Narasimhan will begin working for the company. Schultz will serve as interim CEO until April 2023, when he will join the Starbucks Board of Directors.
Starbucks named Indian-origin Laxman Narasimhan as its new Chief Executive Officer on Thursday, succeeding Howard Schultz. Narasimhan will start working for the company on October 1. Schultz will remain as interim CEO until April 2023, after which he will join the Starbucks Board of Directors.
Chair of the independent Starbucks Board of Directors, Mellody Hobson, called Laxman Narasimhan an 'inspiring leader' in a statement. "His extensive, hands-on experience leading strategic transformations at global consumer-facing businesses makes him the ideal choice to accelerate Starbucks' growth and capitalise on the opportunities ahead of us," she said.
"When I learned about Laxman's desire to relocate, it became clear that he is the right leader to take Starbucks into its next chapter," said current CEO Howard Schultz. With his partner-centred approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets, he is uniquely positioned to shape this work and lead the company forward," according to Starbucks.
According to the company, Narasimhan will relocate from London to the Seattle area and begin his new role as CEO of Starbucks on October 1.
Here's everything you need to know about Laxman Narasimhan:
1) Laxman Narasimhan joined Reckitt in September 2019 as the company's first external candidate since its launch in 1999.
2) The 55-year-old has held several executive positions at PepsiCo, including a global chief commercial officer.
3) He was previously the CEO of PepsiCo Latin America, the CFO of PepsiCo Americas Foods, and the CEO of the company's Latin America, Europe, and Sub-Saharan Africa operations.
4) Narasimhan was previously a senior partner at McKinsey & Company. He was also a Brookings Institution trustee.
5) The Indian-origin man has also served on the UK Prime Minister's Build Back Better Council and is also a member of Verizon's Board of Directors.