UNITED STATES: Starbucks’s world’s largest coffee chain, announced Laxman Narasimhan as their next chief executive officer. Narasimhan is heading a health and hygiene company, ‘Reckitt’. He will take charge of the multinational chain of coffeehouses from October, replacing its iconic interim CEO Howard Shultz.
The CEO will face tough competition from Sundar Pichai of Alphabet, Shantanu Narayen of Adobe, Punit Renjen of Deloitte, Raj Subramaniam of FedEx, and Satya Nadella of Microsoft, among other top business titans.
Narasimhan is a mechanical engineer from the University of Pune who further pursued Masters in German alongside completing his International Studies at the Lauder Institute.
He even opted for an MBA in Finance from The Wharton School of The University of Pennsylvania. Narsimhan has excellent expertise in the field of Marketing, which will further help him take forward the MNC company.
The newly elected CEO said, “Starbuck’s commitment to uplift humanity through connection and compassion has long distinguished the company, building an unrivalled, globally admired brand that has transformed the way we connect over coffee. I am humbled to be joining this iconic company at such a pivotal time, as the reinvention and investments in the partner and customer experiences position us to meet the changing demands we face today and set us up for an even stronger future.”
A further statement from the 55-year-old said, “I look forward to working closely with Howard, the Board, and the entire leadership team — as well as listening to and learning from Starbucks partners — as we collectively build on this work to lead the company into its next chapter of growth and impact.”
Narasimhan was praised and applauded by the current CEO of Starbucks, who said, “Laxman is a motivating boss. He is the perfect candidate to accelerate Starbucks’ growth and seize the opportunities that lie ahead of us thanks to his extensive, hands-on experience leading strategic transformations at multinational consumer-facing businesses.”
As we position Starbucks for the next 50 years, creating value for all of our stakeholders, “his understanding of our culture and values, combined with his expertise as a brand builder, innovation champion, and operational leader, will be true differentiators,” he added.