(Image source from: Twitter.com/OneYoungWorld)
Starbucks, the coffee giant of the globe has named Indian-origin Laxman Narasimhan as its new Chief Executive Officer (CEO). Laxman Narasimhan will join Starbucks from October 1st and he will replace Howard Schultz. Howard will continue as the interim Chief till April 2023. Laxman Narasimhan is 55 years old and he worked as the CEO for Lyson and Enfamil baby Formula in the past. They are UK-based for Reckitt Benckiser Group PLC. Starbucks Board Chairwoman Mellody Hobson said that they have found an exceptional individual Laxman Narasimhan for the role of the next CEO.
Laxman Narasimhan will relocate from London to Seattle region and will join Starbucks as the CEO from October 1st. The Board of Starbucks also asked Howard Schultz to continue as the interim CEO till next year and assist Laxman Narasimhan. Laxman will join the board of Starbucks from April 1st next year as per the reports from The Wall Street Journal. Reckitt Benckiser informed that Laxman Narasimhan who is the CEO will step down in September after three years in the role. Starbucks has been facing tough time from the past few months. More than 200 stores in USA have been unionized in the last one year. The company is reworking on its business model and it has been on a hunt for the new CEO.