Laxman Narasimhan Takes Over As Starbucks CEO

Laxman Narasimhan has become the successor of the coffee giant Starbucks by replacing Howard Schultz. Indian-origin executive Laxman Narasimhan on Monday officially assumed the role of Chief Executive Officer, joining the growing cohort of business leaders originally hailing from India at the helm of global corporations. 

Starbucks made this announcement last year in September, that Narasimhan would become the company’s next CEO and a member of the Board of Directors at Starbucks. Following an international search for a new CEO to succeed business founder and current CEO, Howard Schultz, Narasimhan joined Starbucks as the company’s new CEO on October 1, 2022, after relocating from London to Seattle.

Starbucks in an official statement said that “Effective today, Laxman Narasimhan has assumed the role of chief executive officer and will join the company’s board of directors.” Narasimhan will lead an Annual Shareholders meeting on March 23. “As he ascends into the role, Narasimhan will continue engaging the leadership team, sharing his early learnings and insights and assessing opportunities for the company as they chart a path forward,” the company said.

Narasimhan praised his predecessor Howard Schult for creating the well-known brand from scratch on LinkedIn. “I accept the position of CEO of Starbucks with the deepest of humility. The foundation Howard has laid – building from scratch an iconic global brand fuelled by a lasting passion to uplift humanity – is truly remarkable. Starbucks is an incredible company and its best days are ahead of it,” he wrote.

Narasimhan joined as Starbucks CEO after moving from London to Seattle last year. His company in a statement said that to earn the ‘Barista Certification’ he has travelled to almost 30 stores, manufacturing plants, and support centres, in over the past five months. The company statement quoted Narasimhan saying, “I am humbled to officially step into my role as Starbucks chief executive officer, leading our incredible team of more than 450,000 green apron partners around the world.”

Facts you should know about Laxman Narasimhan

• Laxman Narasimhan graduated from the University of Pune with a degree in mechanical engineering and from the Lauder Institute at the University of Pennsylvania with a Master of Arts degree in German and international studies. He graduated from The Wharton School of The University of Pennsylvania with an MBA in Finance. Narasimhan is a multilingual trustee of the Brookings Institution, a director on the board of Verizon, and a member of the UK Prime Minister’s Build Back Better Council.
• Laxman Narasimhan joined Starbucks last year in October 2022, as the upcoming CEO, and has over 30 years of experience in leading global businesses, restaurants, e-commerce and advertising. 
• Before joining Starbucks, Narasimhan was working with Reckitt a multination consumer brand and nutrition company as CEO. He has also supported the company’s frontline during the Covid pandemic.
• In PepsiCo, Laxman Narasimhan also held a number of executive positions. He held the positions of PepsiCo’s worldwide chief commercial officer, CEO of the company’s operations in Europe, Sub-Saharan Africa, and Latin America, as well as CFO of PepsiCo Americas Foods.
• He has worked with McKinsey & Company for 19 years and advised various industries in US, Asia and India. 
• Laxman Narasimhan, was appointed as Starbucks CEO last year and assumed office on March 20, 2023, and now will be joining the company’s Board of Directors.

The list of Indian-origin people working in big brands across the world is not new. Last month, Ajay Banga, a former CEO of Mastercard was proposed as the next president of the World Bank by US President Joe Biden. In addition to Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, Alphabet CEO Sundar Pichai, and IBM Chairman and Chief Executive Officer Arvind Krishna, Narasimhan’s appointment increased the number of CEOs of major international corporations who are of Indian heritage. Indra Nooyi served as the CEO of PepsiCo for 12 years till she announced her resignation in 2018.