Starbucks Gets New Indian-Origin CEO Who'll Earn Rs 144 Crore: Know Who Is Laxman Narasimha
Weeks before his scheduled takeover of the role, Laxman Narasimhan assumed the role of Chief Executive Officer of global coffee giant Starbucks on Monday. He has succeeded the founder of the company, Howard Schultz.
Who is Laxman Narasimhan?
The 55-year-old had been learning the company's operations by frequenting 30 stores. Narasimhan is of Indian origin and was born and raised in Pune, and he has lived in more than 6 countries, which justifies his ability to speak multiple languages. He also became a barista, a term for those who became an expert in making espresso coffee. Let's understand who he is and where he comes from.
With thirty years of experience, Laxman was a leading force behind the transformation of Reckit's consumer brands and Pepsico. He joined the company's board of directors and started working at Starbucks in October last year.??
His education
Laxman Narsimhan completed his Mechanical Engineering from the Colleges of Engineering, University of Pune, India. He also holds a Master of Arts in German and 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.
His work experience
Before Starbucks, he was the CEO of Reckitt Benckiser Group Plc. In the past, he has also held various roles at PepsiCo and worked at McKinsey and Company for 19 years.
During the COVID-19 pandemic, Laxman Narsimhan headed Reckitt. Under his leadership, the multinational consumer health firm sailed through uncertain lockdowns and health emergencies. He also launched a company-wide effort to anchor Reckitt's consumer brands in higher-demand spaces, initiated the re-imagining of company's notable labels, expanded Reckitt's e-commerce base, etc.
His journey at Starbucks
Laxman Narsimhan joined Tata-owned Starbucks as the interim CEO in October 2022. He was officially expected to take over the position on 1 April, 2023. At Starbucks, Laxman loves to have a cup of doppio espresso macchiato with hot skim milk.
He is also a trustee of the Brookings Institution and a Council on Foreign Relations member. He is also one of the members of the UK Prime Minister's Build Back Better Council and a member of Verizon's Board of Directors.
He has lived around the world due to his job. As per the Starbucks official website, he has lived in the U.S., Canada, Latin America, Europe, Asia and Africa.
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His statement
"I am humbled to officially step into my role as Starbucks chief executive officer, leading our incredible team of more than 4,50,000 green apron partners around the world," the company statement quoted Narasimhan as saying. He said the foundation laid by Schultz, "building from scratch an iconic global brand fuelled by a lasting passion to uplift humanity", is truly remarkable, "and I am honoured to have the opportunity to build on this deep heritage."
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