Meet Indian-origin Laxman Narasimhan, the brand new CEO of Starbucks

Coffee large Starbucks on Thursday named Laxman Narasimhan as its subsequent chief government officer.

Laxman Narasimhan will be part of Starbucks in October however will take the helm in April 2023 (Photo: ANI)

Indian-origin Laxman Narasimhan has been named as the brand new Chief Executive Officer (CEO) of espresso large Starbucks. Laxman Narasimhan was the CEO of Reckitt, which additionally makes Durex condoms, Enfamil child method and Mucinex chilly syrup. The 55-year-old, who beforehand labored at PepsiCo as its world chief industrial officer, has changed Howard Schultz.

Starbucks stated that Laxman Narasimhan will be part of the corporate on October 1 however will take the helm in April 2023. Until then, interim CEO Howard Schultz will proceed to steer the corporate and Laxman Narasimhan will work carefully with Howard Schultz by means of April 1.

In April-June, Starbucks reported a whooping demand resulting from robust gross sales within the United States as Covid restrictions in China have slowed the enterprise.

“He is a strategic and transformational leader with deep experience in building powerful consumer brands,” Schultz stated in a letter to staff welcoming Narasimhan.

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WHO IS LAXMAN NARASIMHAN?

Laxman Narasimhan is a graduate from the University of Pune and accomplished his grasp’s diploma in German and worldwide research from the Lauder Institute on the University of Pennsylavania. He additionally has a grasp’s in enterprise administration diploma from the University of Pennsylvania’s Wharton School.

He joined Reckitt in September 2019 and guided the corporate by means of the Covid-19 pandemic, which boosted gross sales of its well being and hygiene merchandise. He additionally served as world chief industrial officer at PepsiCo and likewise sorted the operations in Latin America, Europe and Sub-Saharan Africa.

Narasimhan has additionally served as a senior companion on the consulting agency McKinsey & Company the place he centered on its shopper, retail and expertise practices within the U.S, Asia and India.

On Thursday, Reckitt, introduced that Laxman Narasimhan would step down as its CEO, following which FTSE-listed Reckitt’s shares fell 4 per cent.

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(With company inputs)

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