Starbucks Names Laxman Narasimhan as Next Chief Executive Officer
01 Setembro 2022 - 5:05PM
Business Wire
Howard Schultz will continue as interim ceo
until April 1, 2023 and serve as an advisor to Narasimhan through
calendar 2023 while remaining on Starbucks Board of Directors.
Starbucks (NASDAQ: SBUX) today announced that Laxman Narasimhan
will become the company’s next chief executive officer and a member
of the Starbucks Board of Directors. Narasimhan will join Starbucks
as incoming ceo on October 1, 2022 after relocating from London to
the Seattle area and will work closely with Howard Schultz, interim
ceo, before assuming the ceo role and joining the Board on April 1,
2023.
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Laxman Narasimhan (Photo: Business
Wire)
Narasimhan brings nearly 30 years of experience leading and
advising global consumer-facing brands. Known for his considerable
operational expertise, he has a proven track record in developing
purpose-led brands. Building on companies’ histories, he has
succeeded in rallying talent to deliver on future ambitions by
driving consumer-centric and digital innovations. Most recently, he
served as chief executive officer of Reckitt, a FTSE-12 listed
multinational consumer health, hygiene and nutrition company, where
he led the company through a major strategic transformation and a
return to sustainable growth.
“Laxman is an inspiring leader. His deep, hands-on experience
driving strategic transformations at global consumer-facing
businesses makes him the ideal choice to accelerate Starbucks
growth and capture the opportunities ahead of us. 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,” said
Mellody Hobson, Independent Starbucks Board of Directors chair.
During the transition period, Narasimhan will be fully immersed
in the company, spending time with Schultz and the management team,
partners and customers and gaining in-depth exposure to the brand,
company culture, and Reinvention plan. This will initially include
Starbucks store immersions, visiting manufacturing plants and
coffee farms, connecting with partners around the globe as well as
Starbucks long term business partners.
Schultz will remain in the role of interim ceo during this
transition period, following which he will continue as a member of
the Starbucks Board of Directors. He will remain closely involved
with the company’s Reinvention and act as an ongoing advisor to
Narasimhan.
“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. 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. As I have had the
opportunity to get to know him, it has become clear that he shares
our passion of investing in humanity and in our commitment to our
partners, customers, and communities. The perspectives he brings
will be a strong asset as we build on our heritage in this new era
of greater well-being. I greatly look forward to our partnership
over the coming months and years,” said Schultz.
“Starbucks commitment to uplift humanity through connection and
compassion has long distinguished the company, building an
unrivaled, globally admired brand that has transformed the way we
connect over coffee. I am humbled to be joining this iconic company
at such a pivotal time, as the Reinvention and investments in the
partner and customer experiences position us to meet the changing
demands we face today and set us up for an even stronger future,”
said Narasimhan. “I look forward to working closely with Howard,
the Board, and the entire leadership team – and to listening and
learning from Starbucks partners – as we collectively build on this
work to lead the company into its next chapter of growth and
impact.”
Previously, Narasimhan held various leadership roles at PepsiCo,
including as global chief commercial officer, where he was
responsible for the company’s long-term strategy and digital
capabilities. He also served as ceo of the company’s Latin America,
Europe and Sub-Saharan Africa operations, and previously as the ceo
of PepsiCo Latin America, and the cfo of PepsiCo Americas Foods.
Prior to PepsiCo, Narasimhan was a senior partner at McKinsey &
Company, where he focused on its consumer, retail and technology
practices in the U.S., Asia and India and led the firm’s thinking
on the future of retail.
Narasimhan is also a trustee of the Brookings Institution, a
member of the Council on Foreign Relations, served as a member of
the UK Prime Minister's Build Back Better Council, and is a member
of Verizon’s Board of Directors. He holds a degree in Mechanical
Engineering from the College of Engineering, University of Pune,
India. He has an MA in German and International Studies from The
Lauder Institute at The University of Pennsylvania and an MBA in
Finance from The Wharton School of The University of
Pennsylvania.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with more than 34,000 stores worldwide, the company is the premier
roaster and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we
bring the unique Starbucks Experience to life for every customer
through every cup. To share in the experience, please visit us in
our stores or online at stories.starbucks.com or
www.starbucks.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220901005822/en/
Maggie Jantzen 206-318-7100 press@starbucks.com
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