Indian-origin Laxman Narasimhan has been named as the new Chief Executive Officer (CEO) of coffee giant Starbucks. Laxman, who was formerly the CEO of Reckitt makers of Durex condoms and Mucinex cold syrup, will join the company on October 1. The 55-year-old, who previously worked at PepsiCo as its global chief commercial officer, has replaced Howard Schultz.
Narasimhan will take the helm in April 2023
Starbucks said that Laxman Narasimhan will join the company on October 1 but will take the helm in April 2023. Until then, interim CEO Howard Schultz will continue to lead the company and Laxman Narasimhan will work closely with Howard Schultz through April 1.
Narasimhan, born in Pune, India earned 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.
He joined Reckitt in September 2019 and guided the company through the COVID-19 pandemic, which boosted sales of its health and hygiene products. Narasimhan also served as a global chief commercial officer at PepsiCo and also looked after operations in Latin America, Europe, and Sub-Saharan Africa.