Laxman Narasimhan is the new CEO of Starbucks: Laxman Narasimhan, an Indian-American business executive born on April 15, 1967, previously served as PepsiCo’s chief commercial officer before becoming Reckitt Benckiser’s CEO. He is anticipated to succeed Howard Schultz as the new CEO of Starbucks in October 2022.
Early life Laxman Narasimhan
Raised in Pune, India, Narasimhan. He received a mechanical engineering degree from the College of Engineering Pune in Pune, India, as well as an MBA in Finance from the Wharton School at the University of Pennsylvania and an MA in German and International Studies from The Lauder Institute.
Laxman Narasimhan Career
From 1998 through 2012, Narasimhan worked with McKinsey, advancing to the positions of director and site manager for the company’s New Delhi branch. He joined PepsiCo in 2012, eventually becoming the chief commercial officer.
In September 2019, he took over as Reckitt Benckiser’s CEO from Rakesh Kapoor.
Starbucks stated Narasimhan would take over as its new CEO on September 1, 2022. Howard Schultz, the temporary CEO following Kevin Johnson’s resignation in March 2022, will be replaced by Narasimhan.
Laxman Narasimhan’s abilities and expertise
Laxman is a superb leader with extensive knowledge of the consumer products industry on both an operational and large-scale basis. Laxman has a track record of establishing purpose-led businesses, fostering consumer-centric innovation, and demonstrating remarkable strategic ability and consumer intelligence.
He has led intricate operational businesses in the past and motivated teams in developed and emerging regions to deliver performance that led the market. This, together with his great interpersonal and leadership abilities, make him a strong candidate for the position.
In addition, Narasimhan serves as a trustee for the Brookings Institution, is a director of Verizon, is a member of the Council on Foreign Relations, and served on the UK Prime Minister’s Build Back Better Council. He graduated from the College of Engineering at the University of Pune in India with a degree in mechanical engineering. He holds an MBA in Finance from The Wharton School of The University of Pennsylvania and an MA in German and International Studies from The Lauder Institute at The University of Pennsylvania.
Laxman is the best to lead the company: Howard Schultz
Laxman Narasimhan is the ideal candidate to manage the company, according to Howard Schultz. Narasimhan has a strong history of expansion in both developed and developing markets. I’ve had an opportunity to get to know them. It is now obvious that they will carry on our love of supporting people and our dedication to our partners, clients, and communities.
Starbucks’ long-time CEO, Schultz, oversaw the company. who continued it after purchasing Starbucks in 1987. Following the retirement announcement of previous CEO Kevin Johnson in March, Schultz was named the company’s temporary CEO. Now, Schulz will stay on the board of the business even after Narasimhan takes charge.
Laxman Narasimhan’s Relationship Status and Married Life
Married is Narasimhan. The couple had the good fortune to have two kids. The public record doesn’t provide much information on his wife and kids.
Laxman Narasimhan’s earnings and net worth
At least $25.3 million is thought to be Laxman Narasimhan’s net worth. Narasimhan’s annual compensation will consist of a $1.6 million cash signing bonus in addition to a base salary of $1.3 million.
The current estimated net worth of Pepsico Inc’s Global CCO & CEO of Latin America, Laxman Narasimhan, is estimated to be about $24.4M. Laxman Narasimhan owns about 130,135 units of Pepsico Inc common stock. In the last 4 years at Pepsico Inc, Laxman Narasimhan has sold an estimated value of $7.7M worth.
Starbucks names Indian-origin Laxman Narasimhan as new CEO— ANI Digital (@ani_digital) September 2, 2022
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Narasimhan was the CEO of PepsiCo-Reckitt
55-year-old The CEO of the UK-based corporation Reckitt was Narasimhan. Thursday saw the announcement by Reckitt of Narasimhan’s abrupt departure from the business. Following this announcement, Reckitt’s stock price dropped by 5%. Narasimhan previously held a number of executive positions at PepsiCo, including CEO and Global Chief Commercial Officer.