Laxman Narasimhan joins Starbucks as its new CEO, starting in April
By MYBRANDBOOK
Starbucks has on Thursday appointed Laxman Narasimhan as its next chief executive officer.
Narasimhan, who previously served as CEO of health and hygiene company Reckitt, which owns brands such as Lysol, Durex and Mucinex, announced his decision of stepping down from that role earlier on Thursday.
The new CEO joins Starbucks in October, taking his time to learn about the company and its reinvention plan, before assuming the top job in April. Until then, Howard Schultz will continue as interim CEO of the coffee chain he grew into a global giant. Schultz will remain on Starbucks' board after Narasimhan succeeds him.
After Kevin Johnson retired in April having served as Starbucks’ CEO five years, Schultz has remained at the helm ever since. In the meantime, Schultz and the Starbucks board hunted for a long-term successor, with the intention of announcing the new CEO in the fall.
Schultz has previously stated his intent of wanting to reinvent the employee, customer and store experience to reckon with how the world has changed since the pandemic. The company is holding an investor day on Sept. 13 in Seattle, where it's expected to unveil more details about the bold changes it plans to make.
Starbucks said in a news release that Schultz will remain "closely involved" with the plan and act as an advisor to Narasimhan.
Narasimhan previously worked at PepsiCo, serving as its global chief commercial officer among other roles. Before that, he was a senior partner at McKinsey.
After assuming the role of the CEO, Narasimhan will have to tackle a number of challenges. In its home market, Starbucks is facing a union push, with more than 200 stores in the U.S. voting to organize under Workers United. The battle has resulted in negative headlines and legal battles. China, which happens to be its second-largest market, is struggling to bounce back from the pandemic, hampered by the country's zero Covid policy.
"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," Starbucks board chair Mellody Hobson said in a statement.
BREAKING NEWS
TECHNO TRENDS
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
E-Magazine
TECHNOTAINMENT
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
MOVERS & SHAKERS
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
Amagi names its Chief Product Officer
Amagi announced the appointment of Richard Perkett as its Chief Product Of
OPEN YOUR EYES
INTERVIEWS
Acer continues to solidify itself as a leading player in the I
Acer, as a key player in the constantly evolving and vibrant ICT industry,
Lenovo aims to solve customers' critical business needs throug
enovo recognizes the immense potential and the crucial role that technology
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
WIPRO LTD.
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
VVDN TECHNOLOGIES
FIREBOLTT
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Rajiv Memani
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
Technology Icons Of India 2023: Som Satsangi
With more than three decades in the IT Sector, Som is responsible for ...
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
PARTNER SPEAKERS
PSU
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
NIC bridging the digital divide and supporting government in eGovernance
The National Informatics Centre (NIC) is an Indian government departme...
VIDEOS
Top 25 Brands
Value-Added Distribution
INGRAM MICRO INDIA PVT. LTD.
Ingram Micro India, a large national distributor offers a comprehensiv...
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
TECHNOBIND SOLUTIONS PVT. LTD.
TechnoBind’s business model is focused on identifying and partnering...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
