Laxman Narasimhan

Starbucks on Thursday named Laxman Narasimhan as its next chief executive officer. · Narasimhan most recently served as CEO of health and hygiene company Reckitt ...

He'll join Starbucks in October, learning about the company and its reinvention plan, before assuming the top job in April. And China, its second-largest market, is struggling to bounce back from the pandemic, hampered by the country's zero Covid policy. In its home market, Starbucks is facing a union push, with more than 200 stores in the U.S. In the meantime, Schultz and the Starbucks board hunted for a long-term successor, with the intention of announcing the new CEO in the fall. Schultz has previously said that he wants to reinvent the employee, customer and store experience to reckon with how the world has changed since the pandemic. Narasimhan most recently served as CEO of health and hygiene company Reckitt, which owns brands such as Lysol, Durex and Mucinex.

Starbucks Corp. tapped Laxman Narasimhan, chief executive officer of Reckitt Benckiser Group Plc, as its next CEO, choosing a consumer-industry veteran to ...

1 while longtime leader Schultz, 69, stays at the helm. Narasimhan, 55, will join the coffee giant Oct.

Starbucks announced Thursday that former PepsiCo executive Laxman Narasimhan will succeed Howard Schultz as its CEO, as the company wrangles with issues ...

Schultz has also [pushed](https://www.wsj.com/articles/starbucks-howard-schultz-change-frappuccinos-11661888871) for a major company overhaul, which includes rethinking how baristas make drinks. Schultz's tenure has been tumultuous, with the CEO pushing back [Starbucks Names Laxman Narasimhan New CEO](https://www.wsj.com/articles/starbucks-names-laxman-narasimhan-new-ceo-11662062713?mod=djemalertNEWS) (Wall Street Journal) [Starbucks Is Rethinking Almost Everything, Including How to Make Frappuccinos](https://www.wsj.com/articles/starbucks-howard-schultz-change-frappuccinos-11661888871) (Wall Street Journal) His two grown children live in the U.S. [New York Times](https://www.nytimes.com/2022/09/01/business/dealbook/starbucks-ceo.html). [said](https://stories.starbucks.com/press/2022/starbucks-names-laxman-narasimhan-as-next-chief-executive-officer/) in a news release.

Laxman Narasimhan, who will take over for Howard Schultz in April, will lead the company at a time of a growing unionization movement and rising costs.

Mr. The chain has long described itself as a “third place,” between work and home, where customers could lounge for hours. It also suffered from lower sales in China, one of its biggest markets outside the United States, tied to pandemic restrictions in the country, though customers had begun to return. Still, the labor organization effort faces challenges, including reaching collective bargaining agreements at newly unionized stores. [most recent earnings report](https://investor.starbucks.com/press-releases/financial-releases/press-release-details/2022/Starbucks-Reports-Q3-Fiscal-2022-Results/default.aspx), in August, Mr. “We don’t believe that a third party should lead our people,” [he said in June](https://www.nytimes.com/2022/06/11/business/dealbook/howard-schultz-starbucks.html). It was that breadth of experience across industries and international borders that drew Starbucks to Mr. 30 — explaining only that he “has been approached for an opportunity that enables him to live” in the United States. He drew praise from investors and analysts for selling underperforming operations and steering the company through the pandemic. A former senior PepsiCo executive, he has most recently led Reckitt Benckiser, the British conglomerate that makes Lysol disinfectant and Durex condoms. “We were looking for somebody that was a true servant leader that had a deep sense of humility,” Mr. Narasimhan, 55, will be thrust into one of the world’s most prominent corporate leadership roles, overseeing roughly 35,000 stores and 383,000 employees globally.

Indian-origin Laxman Narasimhan will join Starbucks on October 1 after relocating from London to Seattle, where Starbucks is based.

Mr. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. He also has a master's in business administration from the University of Pennsylvania's Wharton School. Starbucks announced a $1 billion investment in employee wages and benefits last fall and added $200 million more for pay, worker training and other benefits in May. Reckitt had announced Mr. Schultz said Mr. sales made up for continuing closures in China, the company's second-largest market. Starbucks reported record demand in the April-June period as strong U.S. Schultz has been working on a plan to remake store layouts, upgrade equipment and bolster employees, who came out of the pandemic feeling harassed and underappreciated. He also served as CEO of the company’s Latin America, Europe and Sub-Saharan Africa operations. Narasimhan held various leadership roles at PepsiCo, including as global chief commercial officer. Schultz said in a statement.

Indian-origin Laxman Narasimhan will join Starbucks on October 1 after relocating from London to Seattle, where Starbucks is based.

Mr. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. He also has a master's in business administration from the University of Pennsylvania's Wharton School. Starbucks announced a $1 billion investment in employee wages and benefits last fall and added $200 million more for pay, worker training and other benefits in May. Reckitt had announced Mr. Schultz said Mr. sales made up for continuing closures in China, the company's second-largest market. Starbucks reported record demand in the April-June period as strong U.S. Schultz has been working on a plan to remake store layouts, upgrade equipment and bolster employees, who came out of the pandemic feeling harassed and underappreciated. He also served as CEO of the company’s Latin America, Europe and Sub-Saharan Africa operations. Narasimhan held various leadership roles at PepsiCo, including as global chief commercial officer. Schultz said in a statement.

Howard Schultz will continue as interim ceo until April 1, 2023 and serve as an advisor to Narasimhan through calendar 2023 while remaining on Starbucks ...

He has an MA in German and International Studies from The Lauder Institute at The University of Pennsylvania and an MBA in Finance from The Wharton School of The University of Pennsylvania. Prior to PepsiCo, Narasimhan was a senior partner at McKinsey & Company, where he focused on its consumer, retail and technology practices in the U.S., Asia and India and led the firm’s thinking on the future of retail. I am humbled to be joining this iconic company at such a pivotal time, as the Reinvention and investments in the partner and customer experiences position us to meet the changing demands we face today and set us up for an even stronger future,” said Narasimhan. He will remain closely involved with the company’s Reinvention and act as an ongoing advisor to Narasimhan. His understanding of our culture and values, coupled with his expertise as a brand builder, innovation champion, and operational leader will be true differentiators as we position Starbucks for the next 50 years, generating value for all our stakeholders. SEATTLE (September 1, 2022) – Starbucks (NASDAQ: SBUX) today announced that Laxman Narasimhan will become the company’s next chief executive officer and a member of the Starbucks Board of Directors.

Outsider who heads Lysol maker Reckitt Benckiser will lead the coffee chain after former chief Howard Schultz took over temporarily.

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Narasimhan most recently served as chief executive officer of Reckitt Benckiser Group Plc, an Anglo-Dutch consumer goods company, which owns brands such as ...

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Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex cold syrup.

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Narasimhan's global perspectives as a CEO of a public multinational corporation and background in beverages at PepsiCo will serve Starbucks well into the next chapter," Cowen analyst Andrew Charles wrote in a note. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. The company is also reworking its business model from a focus on cafes that encouraged long visits to mobile pickup and delivery, while facing higher costs for ingredients and labor.

Starbucks recently announced the appointment of its new Chief Executive Officer (CEO) - Laxman Narasimhan. Here's all about him.

He’s also a Trustee of the Brookings Institution, a member of the Council on Foreign Relations, and an Advisory Board member of the Jay H. He will be paid Rs 10 crores approximately (US $ 1.3 million) in annual salary, along with a Rs 12 crore (US $ 1.6 million) cash signing bonus approximately to compensate for the incentives he gives up post leaving Reckitt. He holds a bachelor’s degree in Mechanical Engineering from the College of Engineering Pune and a master’s in German and International Studies from the Lauder Institute at the University of Pennsylvania. The latter will reportedly continue to serve as Interim Chief until April 2023. Currently with Reckitt Benckiser, the Indian-American business executive will take over the coffee giant’s leadership later this year. Starbucks recently announced the appointment of its new Chief Executive Officer (CEO) – Laxman Narasimhan.

Laxman Narasimhan most recently led Reckitt Benckiser, where he was tasked with turning around the consumer products conglomerate.

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The world's most popular maker of mochas on Thursday named Indian-American Laxman Narasimhan as the incoming chief executive. Starbucks said Narasimhan is the ...

The business world points to Narasimhan's time at Reckitt as an example of how he can quickly improve the financial position of a company. [have decided to unionize](https://www.cbsnews.com/news/starbucks-pay-2022-union-efforts/) — a decision the company's management has opposed. Before Reckitt, Narasimhan was the CEO of PepsiCo's Latin America, Europe and Sub-Saharan Africa operations. Starbucks stores have [voted to unionize](https://www.cbsnews.com/news/starbucks-russia-ukraine-boycott-successor-stars-coffee/) since late last year. [said](https://stories.starbucks.com/press/2022/starbucks-names-laxman-narasimhan-as-next-chief-executive-officer/) Thursday that Narasimhan will join the company October 1. As Narasimhan prepares to lead the company, changes are afoot at the coffee giant.

Laxman Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex cold syrup. He announced his departure from that post ...

His journey from Pune to the CEO of Starbucks, Gundecha said, is an inspiration and a living testament for big dreams and taking risk. The incoming CEO of Starbucks also had said he is an ardent fan of rock music. Also, when he was posted in Mexico to head PepsiCo, he took to learning Spanish to understand the market better,” the Jombay CEO added. “Last year, as member of the alumni association, I had invited him for a virtual interaction with us. Born in Pune, he was a student of St Vincent’s School and, according to Gundecha, his association with COEP remains strong. Gundecha has a personal connection as he has interacted with Narasimhan multiple times in the past.

Laxman Narasimhan, who will head the world's biggest coffee chain despite never having run a retail or restaurant business, was a newcomer when he took the ...