A Seasoned Business Leader At The Helm

Starbucks Announces Laxman Narasimhan as New CEO

A Seasoned Business Leader at the Helm

Starbucks Corporation (NASDAQ: SBUX) has appointed Laxman Narasimhan as its new Chief Executive Officer (CEO), effective October 1, 2022. Narasimhan, who currently resides in London, will relocate to the Seattle area to take on his new role.

Narasimhan brings a wealth of experience to Starbucks, having served as the CEO of Reckitt Benckiser, a British multinational consumer goods company, since 2019. Prior to that, he held various leadership positions at PepsiCo, including CEO of its Latin America, Asia, Middle East and Africa (LAMMEA) region.

Replacing Brian Niccol

A Successful Turnaround

Narasimhan succeeds Brian Niccol, who has been instrumental in Starbucks' recent success. Niccol, a fast-food industry veteran, joined Starbucks in 2017 and has led the company through a turnaround period, overseeing initiatives such as the expansion of its digital platform and the introduction of new menu items.

Niccol will remain with Starbucks as a strategic advisor until March 31, 2023, to ensure a smooth transition.

A Trusted Leader with Extensive Experience

Narasimhan is a highly respected business leader known for his strategic vision and execution capabilities. He holds a MBA from The Wharton School of the University of Pennsylvania and a Master's degree in Engineering from the University of Pune, India.

Starbucks Chairman Mellody Hobson expressed confidence in Narasimhan's abilities, stating, "Laxman is a proven leader with a deep understanding of our business and a passion for our brand. We are thrilled to welcome him to Starbucks and believe he will be an exceptional CEO."