Starbucks names Laxman Narasimhan as new CEO
Most recently, he served as CEO of Reckitt where he led the company through a major strategic transformation and a return to sustainable growth
Starbucks has announced that Laxman Narasimhan will become the company’s next chief executive officer (CEO) and a member of the Starbucks board of directors, joining as incoming CEO on October 1 2022.
Narasimhan will relocate from London to the Seattle area and will work closely with Howard Schultz, interim CEO, before assuming the CEO role and joining the board on 1 April 2023. During the transition period, Narasimhan will visit Starbucks’ store immersions, manufacturing plants and coffee farms.
He brings nearly 30 years of experience leading and advising global consumer-facing brands. Most recently, he served as CEO of Reckitt where he led the company through a major strategic transformation and a return to sustainable growth.
Previously, he held various leadership roles at PepsiCo, including as global chief commercial officer, where he was responsible for the company’s long-term strategy and digital capabilities. He also served as CEO of the company’s Latin America, Europe and Sub-Saharan Africa operations, and previously as the CFO of PepsiCo Americas Foods.
Prior to PepsiCo, Narasimhan was a senior partner at McKinsey and Company, where he focused on its consumer, retail and technology practices in the U.S., Asia and India.
Mellody Hobson, independent Starbucks board of directors chair, said: “Laxman is an inspiring leader. His deep, hands-on experience driving strategic transformations at global consumer-facing businesses makes him the ideal choice to accelerate Starbucks growth and capture the opportunities ahead of us.”
Schultz added: “The perspectives he brings will be a strong asset as we build on our heritage in this new era of greater well-being. I greatly look forward to our partnership over the coming months and years.”
Narasimhan said: “I look forward to working closely with Howard, the board, and the entire leadership team – and to listening and learning from Starbucks partners – as we collectively build on this work to lead the company into its next chapter of growth and impact.”
