Indian-Origin Laxman Narasimhan Takes Over as CEO of Starbucks
Written by Sanjay Kumar
Starbucks has announced that Laxman Narasimhan has assumed the role of CEO, succeeding Howard Schultz. Narasimhan joins a growing list of Indian-origin business leaders at the helm of global corporations.
Narasimhan, who is 55 years old, officially took charge of Starbucks six months after the company first revealed that he would become the next CEO and a member of the board of directors.
Laxman Narasimhan
(CEO of Starbucks)
|
Starbucks
(Coffeehouse company) |
Born – 15 May 1967 (age 55) – Pune, India | Founded: 30 March 1971, Seattle, Washington, United States |
Education – College of Engineering Pune (B.Tech in Mechanical Engineering), University of Pennsylvania (MA, MBA)
|
CEO: Howard Schultz (4 Apr 2022–1 Apr 2023)
|
Title – CEO-designate of Starbucks | Founders: Gordon Bowker, Jerry Baldwin, Zev Siegl |
Predecessor – Howard Schultz (acting), Kevin Johnson | Designated CEO: Laxman Narasimhan (1 Apr 2023) |
Children – 2 | Revenue: 3,225 crores USD (2022) |
Taking to LinkedIn, Narasimhan praised his predecessor Schultz for building the iconic brand from scratch.
“I accept the position of CEO of Starbucks with the deepest of humility. The foundation Howard has laid – building from scratch an iconic global brand fuelled by a lasting passion to uplift humanity – is truly remarkable,” he wrote.
“Starbucks is an incredible company and its best days are ahead of it.”
In October of last year, Narasimhan joined Starbucks as the incoming CEO, relocating from London to the Seattle area to take on this new role.
Here’s all you need to know
- Reportedly, Narasimhan will make his first public address as the chief executive officer of Starbucks at the company’s annual shareholder meeting on Thursday (March 23).
- This announcement has arrived almost two weeks ahead of its previously expected schedule.
- Laxman Narasimhan received his Mechanical Engineering degree from the Colleges of Engineering at the University of Pune, India. He also holds a Master of Arts degree in German and International Studies from the Lauder Institute at the University of Pennsylvania, and an MBA in Finance from the Wharton School of the University of Pennsylvania.
- Before his appointment at Starbucks, Narasimhan served as the chief executive of Reckitt, a company that owns well-known brands such as Lysol, Durex, and Mucinex.
- Narasimhan has gained valuable experience in the consumer goods industry and consulting through his previous work at major corporations such as PepsiCo and McKinsey.
- During his 19-year tenure at McKinsey, Narasimhan provided counsel to companies in the retail, consumer goods, and healthcare sectors in the United States, Asia, and India.
FAQ
01. Who is the new CEO of Starbucks?
Indian-Origin Laxman Narasimhan is the new CEO of Starbucks.
02. Who did Narasimhan succeed as CEO of Starbucks?
Indian-Origin Laxman Narasimhan succeeded Howard Schultz as CEO of Starbucks.
03. What is Narasimhan’s background?
Indian-Origin Laxman Narasimhan received his Mechanical Engineering degree from the Colleges of Engineering at the University of Pune, India. He also holds a Master of Arts degree in German and International Studies from the Lauder Institute at the University of Pennsylvania, and an MBA in Finance from the Wharton School of the University of Pennsylvania.
04. What was Narasimhan’s previous job?
Before joining Starbucks, Indian-Origin Laxman Narasimhan served as the chief executive of Reckitt, a company that owns well-known brands such as Lysol, Durex, and Mucinex.
05. What experience did Narasimhan gain before joining Starbucks?
Laxman Narasimhan gained valuable experience in the consumer goods industry and consulting through his previous work at major corporations such as PepsiCo and McKinsey.
06. When will Narasimhan make his first public address as CEO of Starbucks?
Laxman Narasimhan will make his first public address as CEO of Starbucks at the company’s annual shareholder meeting on Thursday (March 23).
07. What did Narasimhan say about his predecessor Howard Schultz?
Laxman Narasimhan praised his predecessor Schultz for building the iconic brand from scratch, saying, “The foundation Howard has laid – building from scratch an iconic global brand fueled by a lasting passion to uplift humanity – is truly remarkable.”
08. Why was this announcement made almost two weeks ahead of its previously expected schedule?
It is unclear why the announcement was made almost two weeks ahead of its previously expected schedule.