Who Is This New CEO Of Starbucks ‘Laxman Narasimhan’?
Starbucks has appointed Indian-origin Laxman Narasimhan as their new CEO. Laxman will replace Howard Schultz on 1st October, 2022.
Indian-origin Starbucks has appointed Laxman Narasimhan as their new Chief Executive Officer (CEO).
Reckitt, which also manufactures Durex condoms, Enfamil infant formula, and Mucinex cold syrup, were also led by Laxman Narasimhan as CEO.
Howard Schultz has been replaced by the 55-year-old, who most recently served as PepsiCo’s global chief commercial officer.
What was initially a trickle of water has turned into a Tsunami. The appointment of Indian-origin CEOs at the world’s most iconic companies is now an unstoppable trend. International boardrooms consider them to be almost ‘safe’ leadership bets. 👏🏽👏🏽👏🏽https://t.co/PxbrOMK7Aa— anand mahindra (@anandmahindra) September 2, 2022
Laxman Narasimhan will begin working for Starbucks on October 1 but won’t assume leadership until April 2023, according to Starbucks.
Up until that time, Laxman Narasimhan will collaborate closely with interim CEO Howard Schultz and will serve as the company’s leader.
Starbucks claimed record demand from April to June as a result of brisk sales in the United States, as Covid regulations in China had delayed the company’s operations.
Starbucks today announced that Laxman Narasimhan will become the company’s next chief executive officer, working closely with Howard Schultz, before assuming the role and joining the Board on April 1, 2023. https://t.co/AQCCDiT0bt— Starbucks News (@StarbucksNews) September 1, 2022
Who Is Indian-Origin Laxman Narasimhan?
Laxman Narasimhan earned his undergraduate degree from the University of Pune and his master’s degree in German.
He completed his international studies from the Lauder Institute at the University of Pennsylvania. He is a graduate of the University of Pune.
He also holds a master’s degree in business management from the Wharton School of the University of Pennsylvania.
The Covid-19 epidemic, which increased demand for Reckitt’s health and hygiene goods, was managed by him after he joined the firm in September 2019.
He oversaw operations in Latin America, Europe, and Sub-Saharan Africa while serving as PepsiCo’s worldwide chief commercial officer.
Additionally, Narasimhan worked as a senior partner for McKinsey & Company, where he was responsible for the company’s consumer, retail, and technology practices in the United States, Asia, and India.
Laxman Narasimhan’s resignation as Reckitt’s CEO was announced on Thursday, and as a result, the company’s FTSE-listed shares dropped 4%.