Laxman Narasimhan a new CEO and a seasoned executive in the FMCG sector, will relocate from London to Seattle on October 1 to take over as Starbucks’ next CEO.
Laxman Narasimhan, an Indian-American business executive born on April 15, 1967, previously served as PepsiCo’s chief commercial officer before becoming Reckitt Benckiser’s CEO.
He is anticipated to succeed Howard Schultz as the new CEO of Starbucks in October 2022. Narasimhan, a seasoned executive in the FMCG sector, will relocate from London to Seattle in October to take the helm of Starbucks.
Prior to taking over and joining the Board on April 1, 2019, he would initially work closely with interim CEO Howard Schultz.
What Is Laxman Narasimhan Net Worth & Salary As Starbucks CEO?
According to the source, Laxman Narasimhan, the new CEO of Starbucks, is expected to have a net worth of approximately $25.9 million as of 2022.
Laxman Narasimhan spent 19 years at McKinsey before leaving in 2012, advancing to the positions of director and site manager for the company’s New Delhi branch.
Narasimhan joined PepsiCo in 2012 and eventually attained the title of Chief Commercial Officer.
Other executive positions he held at PepsiCo were those of Global Chief Commercial Officer, CEO of the business’ operations in Latin America, Europe, and Sub-Saharan Africa, and CFO of PepsiCo Americas Foods.
Laxman Narasimhan succeeded Rakesh Kapoor as CEO of Reckitt Benckiser later in September 2019. In addition to becoming the new CEO of Starbucks, the new CEO is a trustee at the Brookings Institution and a council member.
He is a member of Verizon’s Board of Directors and has served on the UK Prime Minister’s Build Back Better Council.
Laxman Narasimhan Family Background
In Pune, India, Laxman Narasimhan was raised. He received a mechanical engineering degree from the College of Engineering Pune in Pune, a master’s degree in German and international studies from the Lauder Institute at the University of Pennsylvania.
And a master’s degree in business administration in finance from the Wharton School at the University of Pennsylvania. In terms of his private life, Narasimhan resides in Greenwich, Connecticut, is married, and has two children. He is a six-language pro.
The CEO of Starbucks, Laxman Narasimhan, has 30 years of expertise managing and counseling international consumer-facing brands.
Additionally, he has a track record of leading consumer-centric and digital breakthroughs and creating businesses with a clear purpose. Laxman Narasimhan previously served as the CEO of Reckitt, a global consumer health, hygiene, and nutrition firm.
Laxman Narasimhan Starbucks New CEO: His Career
In October 2022, Laxman Narasimhan is anticipated to succeed Howard Schultz as the head of Starbucks.
The largest coffeehouse chain in the world is Starbucks Corporation, an American multinational company with its headquarters in Seattle, Washington.
Notably, Starbucks, which offered a larger variety of coffee experiences, is often blamed for the growth of the second wave of coffee culture.
Laxman Narasimhan, an executive of Indian descent, has most recently been named as the company’s new CEO. Currently, Howard Schultz is acting as CEO in an interim capacity.
Laxman Narasimhan, an Indian native, was chosen on Thursday to succeed Howard Schultz as Starbucks Corp.’s CEO.
The 55-year-old, who earlier in the day resigned as Reckitt Benckiser’s CEO, will start working for the international chain of coffee shops on October 1.
Laxman has led intricate operational businesses in the past and motivated teams in mature and developing countries to deliver performance that led the market.
Reckitt noted that this, along with his strong interpersonal and leadership abilities, make him a strong candidate for the position.