Starbucks new CEO Laxman Narasimhan takes his seat

Narasimhan succeeds longtime Starbucks leader Howard Schultz, who retired last spring to serve as interim CEO.

SEATTLE — Starbucks officially has a new CEO.

The Seattle coffee giant said Monday that Laxman Narasimhan has assumed the role of CEO and joined the company’s board. Narasimhan succeeds longtime Starbucks leader Howard Schultz, who retired last spring to serve as interim CEO while the company searches for a new chief executive. Schultz will remain on the company’s board of directors.

Starbucks announced last September that Narasimhan would become the company’s new CEO. Narasimhan, 55, was most recently the CEO of Reckitt, a UK-based nutrition, hygiene and consumer health company. Before that, he was a longtime executive at Pepsico.

Since being appointed as the upcoming CEO, Narasimhan has visited more than 30 stores, manufacturing plants and support centers around the world, the company said. He also earned his barista certification. In a prepared statement, Narasimhan said he was humbled as he stepped into his new role.

“The foundation that Howard has laid – building from the ground up an iconic global brand driven by a long-standing passion for uplifting humanity – is truly remarkable and I am honored,” said Narasimhan. when given the opportunity to build on this profound legacy.”

Narasimhan is expected to lead Starbucks’ annual meeting on Thursday. During the year as interim CEO, Schultz announced investments of hundreds of millions of dollars to improve workers’ wages and benefits, and refurbish Starbucks stores in North America.

The company posted record revenue for its most recent quarter, which ended January 1.

But Schultz also faces a growing consolidation effort at its US stores, which the company opposes. Schultz is expected to testify on March 29 before a Senate committee examining the company’s labor records.

https://www.king5.com/article/news/local/starbucks-new-ceo/281-574052dc-1c97-48ee-961e-68ae122bdc99 Starbucks new CEO Laxman Narasimhan takes his seat

Edmuns DeMars

Edmund DeMarche is a USTimesPost U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. Edmund DeMarche joined USTimesPost in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing edmund@ustimespost.com.

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