Starbucks, Appoints New CEO.
CNN reports Laxman Narasimhan
will be the next CEO of Starbucks.
After joining the coffee chain on Oct. 1,
he will officially take over as CEO in April.
He will also join the board of directors.
Narasimhan most recently served as CEO of the Reckitt Benckiser Group, a multinational consumer goods company.
Howard Schultz will remain interim CEO
of Starbucks amid the transition.
He will also
stay on the board.
CNN reports that on Sept. 1, Schultz shared his confidence in Narasimhan to be able to lead the company during a turbulent time.
CNN reports that on Sept. 1, Schultz shared his confidence in Narasimhan to be able to lead the company during a turbulent time.
He is a strategic and transformational leader with deep experience in building powerful consumer brands. He is the leader we were looking for, Howard Schultz, via statement.
Mellody Hobson, independent chair
of the Starbucks board, said that , Narasimhan's “deep, hands-on experience driving
strategic transformations at global consumer-facing businesses makes him the ideal choice.”.
Prior to joining Reckitt Benckiser,
Narasimhan was global chief
commercial officer for PepsiCo