Global coffee chain Starbucks has appointed a new CEO who is relocating from London to the company HQ in Seattle.
The new boss is Laxman Narasimhan, former CEO at FTSE-12 listed multinational consumer health, hygiene and nutrition company Reckitt.
Narasimhan will work for six months with Starbucks founder and interim chief Howard Schultz, starting on 1 October. He will assume the CEO position and join the board on 1 April 2023.
Narasimhan’s experience includes 19 years with McKinsey and nearly five years at Pepsico. In the food and beverage business he held leadership roles in the Latin American market, and was global chief commercial officer.
Narasimhan said of his appointment, “I look forward to working closely with Howard, the board, and the entire leadership team – and to listening and learning from Starbucks partners – as we collectively build on this work to lead the company into its next chapter of growth and impact.”
Schultz will continue as a member of the Starbucks board of directors. He will remain closely involved with the company’s Reinvention and act as an ongoing advisor to Narasimhan.
Schultz welcomed the new CEO’s “partner-centered approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets”.
Starbucks launched in 1971. Today the coffee chain has more than 34,000 stores worldwide.
