Who Is Laxman Narasimhan? New Starbucks CEO Takes Reins From Howard Schultz

Starbucks Corp. announced Monday that the new incoming CEO Laxman Narasimhan has assumed the role two weeks ahead of the earlier plan.

The world's largest coffee chain made the announcement about the incoming CEO in September and the official transition was expected on April 1.

Narasimhan takes over the reins from Howard Schultz, who served the company as the CEO for three terms. "Today, I am entrusting you all with Starbucks – something that holds a place in my heart second only to that of my beloved family," Schultz wrote in a letter, welcoming Narasimhan to the top seat, CNBC reported.

Schultz built the coffee empire while working as the chief executive of the chain from 1987–2000 and from 2008–17. After coming out of his retirement in 2022, Schultz served as the interim CEO of the company while it searched for a new chief executive.

"The foundation Howard has laid - building from scratch an iconic global brand fueled by a lasting passion to uplift humanity - is truly remarkable, and I am honored to have the opportunity to build on this deep heritage," Narasimhan said in a statement, as reported by Economic Times.

Although Schultz has stepped down from the chief executive role, he will remain on the company's board.

Narasimhan takes charge of Starbucks while it faces scrutiny over its conduct with union leaders amid accusations of union-busting. Schultz is expected to testify in front of a Senate panel on March 29 about the company's alleged ongoing anti-union efforts.

Narasimhan was the chief executive of Reckitt, a British consumer goods company that owns brands like Lysol, Durex, and Finish.

The Indian-origin business executive began his career at consulting firm McKinsey & Company after completing his MBA from Penn's Wharton School. He worked for nearly two decades at the company serving various retail, consumer goods, and healthcare industries. Narasimhan joined PepsiCo in 2012 and worked as CEO of its Latin America business and global chief commercial officer, Business Insider reported.

Although a novice to the coffee industry, after the announcement of his entry to Starbucks was made in September, Narasimhan spent months learning about the company's business, working alongside employees at over 30 stores, manufacturing plants, and support centers. He also took his barista certification, the company said.