The global coffee chain, Starbucks named Laxman Narasimhan as its next Chief Executive Officer (CEO) on Thursday, Bloomberg reported.
Narasimhan, a 55-year-old, had last worked as the CEO of Reckitt Benckiser Group Plc, a leading health and hygiene British company. Before his stint at Reckitt, Narasimhan was an executive at PepsiCo Inc and also worked at consulting firm McKinsey & Co. The consumer-industry veteran is all set to join Starbucks on October 1 before taking up the top job in April.
Meanwhile, Starbucks’ 69-year-old leader Howard Schultz, will hold the mantle under his predecessor takes charge. After that happens in April, Schultz will continue working as an adviser. Both Schultz and Narasimhan will also be part of the company board, giving the organization the stability it needs at this time of transformation.
Narasimhan will take the charge at Starbucks when the global coffee chain is facing growing union trouble and dwindling sales in China.
