– USA, WA – Starbucks (NASDAQ: SBUX) today announced the appointment of Laxman Narasimhan as CEO, effective on October 1, 2022, while he will join the Board of Directors on April 1, 2023.
“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 Board chair, Mellody Hobson.
About Laxman Narasimhan
Laxman 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 CEO of Reckitt, an FTSE-12 listed global consumer health, hygiene, and nutrition company. He led the company through a significant strategic transformation and a return to sustainable growth.
“Starbuck’s 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 Laxman 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, Laxman Narasimhan held various leadership roles at PepsiCo, including as global CCO, 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 CEO of PepsiCo Latin America, and CFO of PepsiCo Americas Foods. Before PepsiCo, Laxman 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.
Laxman 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.
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