Starbucks has announced that Laxman Narasimhan has officially assumed the role of chief executive officer and will join the company’s board of directors.
Narasimhan was named incoming CEO on 1 September 2022, succeeding company founder and former CEO, Howard Schultz.
He will lead the company's Annual Shareholder Meeting on 23 March, the company added.
30 Years Of Experience
Narasimhan joined Starbucks as incoming CEO on 1 October 2022, bringing nearly 30 years of experience leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.
Over the past five months, the former Reckitt CEO traveled to work with partners (employees) in over 30 stores, manufacturing plants and in support centres around the world, earning his barista certification along the way.
Starbucks added that in this period he was 'immersed in the reinvention plans' for the company, originally led by Schultz, who returned as interim CEO on 2 April 2022.
Read More: Starbucks Corp Says Sales Drop In China Impacted Profits
'Human Connection Business'
Commenting on his new role, Narasimhan said, “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.
"The foundation Howard has laid – building from scratch an iconic global brand fuelled by a lasting passion to uplift humanity – is truly remarkable, and I am honoured to have the opportunity to build on this deep heritage."
"As a human connection business, we have limitless possibilities to deliver for our partners, our customers, our investors and our communities through every cup and every connection. I am excited to work alongside our partners worldwide to unlock the limitless future of Starbucks,” he added.
© 2023 European Supermarket Magazine – your source for the latest A-Brands news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.