By Yashwant Raj Washington 2nd, September : The world’s largest coffee giant Starbucks has appointed Indian-born Laxman Narasimhan as its next CEO.
Narasimhan who is currently the head of health and hygiene firm Reckitt Narasimhan, who is currently the head of health and hygiene company Reckitt Starbucks in October.She will will succeed the famous interim CEO Howard Shultz in April.
Narasimhan joins the ranks of Indian-born CEOs who are leading US corporations, including Satya Nadella of Microsoft, Sundar Pichai of Alphabet, Shantanu Narayen of Adobe, Punit Renjen of Deloitte and Raj Subramaniam of FedEx.
Some of the most notable ex- Desi CEOs are Indra Nooyi of PepsiCo and Ajay Banga of Mastercard.
The new Starbuck CEO has studied mechanical engineering at the University of Pune and then he went west, racking the Masters in German as well as 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.
“Starbucks dedication to uplifting humanity through connection and compassion has been a hallmark of the company, resulting in an unmatched, globally loved brand that has revolutionized the way we interact with coffee.It is an honor to join this renowned company at such a crucial moment in time, as the new design and investment in the customer and partner experiences allow our company to respond to the ever-changing demands of our times and prepare us for a stronger future,”” Narasimhan said.Narasimhan, saying, “I look forward to working closely with Howard and the Board and all the leadership teamas well as taking lessons and advice from Starbucks partners as we collectively build upon this work to guide the company into the next phase of expansion and change.”
He will move from London to Seattle, Washington, from London and will be working closely with Shultz before officially taking over in April.
“Laxman is a spirited leader.His vast and hands-on experience in managing strategic transformations at international companies that are geared towards consumers is the perfect choice for accelerating Starbucks growth and capitalize on the opportunities that lie ahead of us.His knowledge of our values and culture and our values, combined with his skills as a brand-building expert, innovator and an operational leader, will be key distinct factors in preparing Starbucks for the coming 50 years, creating value for all of our customers,” said Shultz.
Shultz’s carefully selected successor was hand-picked by Shultz.Kevin Johnson retired in April after five years.Shultz came back to take over the reins of the company in the interim role of interim CEO, and the search began for a permanent head that concluded with Narasimhan being announced on Thursday.
Shultz is expected to remain a part of the Starbucks board the company announced.he will “remain actively involved with the company’s rebranding and serve as an ongoing consultant to Narasimhan”.
Narasimhan has previously worked with PepsiCo including as the Chief Commercial Officer for the world and as a senior partner with McKinsey & Company, before that.At McKinsey he was focused on its retail, consumer as well as technology-related methods in the US, Asia and India.
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