Laxman Narasimhan has been appointed Starbucks CEO following his announcement last week that he would be stepping down as CEO at Reckitt, the parent company of Durex, Dettol and Vanish.
Narasimhan is set to join the coffee shop chain as incoming chief executive officer from 1 October, working closely with interim CEO, Howard Schultz.
On 1 April 2023, Narasimhan will assume position as CEO and join the Starbucks board of directors, following his move from London to Seattle.
In addressing his leave from Reckitt, he said: “I have been offered an opportunity to return to the United States and although it is difficult to leave, it is the right decision for me and my family.”
The change comes as Narasimhan held his former position at the consumer goods company for the past three years.
He was also previously global chief commercial officer at PepsiCo as well as CEO of PepsiCo Latin America and CFO for PepsiCo Americas Foods.
His new role at Starbucks will include duties such as visiting manufacturing plants and coffee farms, connecting with global partners and its long term business partners.
“When I learned about Laxman’s desire to relocate, it became apparent that he is the right leader to take Starbucks into its next chapter,” Schultz said.
“He is uniquely positioned to shape this work and lead the company forward with his partner-centered approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets.”
Independent Starbucks board of directors chair, Mellody Hobson added: “His understanding of our culture and values, coupled with his expertise as a brand builder, innovation champion, and operational leader will be true differentiators as we position Starbucks for the next 50 years, generating value for all our stakeholders.
“On behalf of the entire board, I am thrilled to welcome Laxman as Starbucks next CEO.”
