Indian-origin Laxman Narasimhan to be world’s largest coffee chain Starbucks’ new CEO

Tags: Person in news

America's multinational coffee company 'Starbucks' has appointed Indian-origin 'Laxman Narasimhan' as its new CEO in place of Howard Schultz. 

IMPORTANT FACTS -

• Narasimhan will take over as the CEO of world's largest coffee chain company Starbucks from October 1.

• Mr Narasimhan, 55, has served as chief executive of UK-based Reckitt Benckiser Group, maker of Lysol and Enfamil baby formulas.

• In a statement issued by Starbucks, it has been told that Narasimhan will shift from London to Seattle.

• Starbucks' board asked Howard Schultz (the current CEO of Starbucks) to remain as interim CEO until April 2023, to assist Narasimhan.

• According to The Wall Street Journal, Narasimhan will assume the role of CEO and join the company's board on April 1.

• Narasimhan serves as the Chief Executive Officer (CEO) of the multinational consumer goods company Reckitt Benckiser Group (popularly known as Reckitt).

• Narasimhan will step down on September 30, 2022, after leading the company for three years (September 2019 to September 2022).

• He will now be replaced by senior independent director Nikandro Durante at Reckitt Benckiser.

Laxman Narasimhan :

• Shri Narasimhan holds a degree in Mechanical Engineering from Pune University. He has an MBA from The Wharton School. He was appointed as the CEO of Reckitt on September 1, 2019.

• Prior to joining Reckitt, he held various high positions at PepsiCo from 2012 to 2019.

• He also served as a director at McKinsey & Company from 1993 to 2012.