Narasimhan, who joined Starbucks as CEO, is stepping down from his role "with immediate effect" and will also resign from the Starbucks board. Until Brian Niccol officially takes over, the company's Chief Financial Officer (CFO), Rachel Ruggeri, will serve as interim CEO.
Howard Schultz - Narasimhan's predecessor and a celebrated CEO and founder - had in May said that Starbucks needed to renew focus, and fix the US operations, which were the 'primary reason for the company’s fall from grace'.
Starbucks Global CEO Laxman Narasimhan discussed with CNBC-TV18’s Shereen Bhan the plan to get to 55,000 stores over the course of the next five years, with three out of the four stores being outside of the US and India's role in it
Laxman Narasimhan succeeds longtime Starbucks leader Howard Schultz, who came out of retirement last spring to serve as interim CEO while the company searched for a new chief executive.
Laxman Narasimhan, who was raised in Pune, India, will officially take over as Starbucks CEO in April, succeeding Howard Schultz.
The 55-year-old Indian American, Laxman Narasimhan, will also have Starbucks private jet at his disposal.
India-born Laxman Narasimhan is set to join Starbucks in October and take over as CEO of the global coffee chain in April 2023.
Executive search firm chiefs say optimal use of resources, balance of IQ and EQ, global experience, and problem-solving skills are among the qualities that make Indian-origin leaders stand out.
While the international cafe chain witnessed a decline in sales with the onset of the pandemic, it kept on launching stores and is now back on the growth track, says a report by Jefferies. Profitability, however, still remains a concern for investors in the country.
Laxman Narasimhan, 55, who previously held top positions at Reckitt Benckiser Group and PepsiCo, will join Starbucks on October 1.
From tech giants, top luxury brands to big pharma, Indian-origin CEOs are making quite an impression
Starbucks on Thursday announced that Laxman Narasimhan will become the company’s next chief executive officer and a member of the Starbucks Board of Directors
Laxman Narasimhan is succeeding Howard Schultz as the CEO of coffee giant Starbucks.
Laxman Narasimhan has previously held top positions in the Reckitt Benckiser Group and PepsiCo.
Laxman Narasimhan, , 55, will join the coffee giant Oct. 1 while longtime leader Schultz, 69, stays at the helm.
Laxman Narasimhan, 55, joined the company in September 2019 from PepsiCo and was the first external candidate to take the helm at Reckitt since the maker of Durex condoms and Nurofen tablets was formed in 1999.
Driving forward the theme ‘Navigating 2022: Chasing the Recovery’, the meeting brought together Global & Indian CEOs to discuss with CNBC-TV18’s Managing Editor, Shereen Bhan, what the year holds amidst the uncertainties brought on by the pandemic
He is the second Indian after Rakesh Kapoor to be appointed as Reckitt Benckiser CEO.