The coffee giant, Starbucks named Indian-origin Laxman Narasimhan as its next Chief Executive Officer. He will relocate to Seattle from London and join Starbucks on 1st October and take over as CEO in April 2023.
Narasimhan, a veteran of PepsiCo and other consumer brands, was currently the Chief Executive of Reckitt.
After joining in October he will take the helm in April 2023, after spending a few months learning about the company. Until then, interim-CEO Howard Schultz will continue to lead the company.
Shultz will remain a member of the Starbucks board and will be closely involved with the company’s reinvention and act as an ongoing advisor to Narasimhan, the company said.
The transition comes as Starbucks navigates a burgeoning US unionisation push following a difficult stretch for workers during Covid-19. It has responded to the drive by boosting investments in worker’s pay and stores after hearing the concerns of the employees.
Narasimhan joined Reckitt in September 2019 and was the first external candidate to take the helm at the company since it was launched in 1999.
Schultz stated that Narasimhan was the right leader to take Starbucks into its next chapter with his partner-centred approach.