Indian-origin Laxman Narasimhan will be replacing Howard Schultz as the new Chief Executive Officer (CEO) of Coffee giants Starbucks, the company announced on Thursday. Laxman, who was formerly the CEO of Reckitt – makers of Durex condoms and Mucinex cold syrup, will join the company on October 1.
Schultz, who has served as Starbucks CEO on multiple occasions, will be staying with the company as interim chief till 2023 and then, will continue as a member of the Board of Directors.
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Narasimhan was born in Pune, India and he went on to earn his degree in mechanical engineering from the Savitribai Phule Pune University. He moved to the United States for further studies and completed his MA in German and International Studies from The Lauder Institute at the University of Pennsylvania, and an MBA in Finance from the Wharton School at the University of Pennsylvania, according to AFP.
Schulz was all praise for his successor as he called Laxman the “right leader to take Starbucks into its next chapter”. He also praised Laxman for his “partner-centred approach” and “track record”.
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“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-centred approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets,” he said according to the Starbucks statement.
Narasimhan served as the Reckitt CEO from September 2019 and previously, he was also the Chef Business Officer at Pepsi Co. He was also a member of former British Prime Minister Boris Johnson’s Build Back Better Council which was aimed at “economic recovery and growth across the UK”.
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