Starbucks has announced that Laxman Narasimhan has officially assumed the role of chief executive officer and will join the company’s board of directors.
Narasimhan will lead Starbucks’ annual shareholder meeting this Thursday, 23 March.
He was named incoming CEO on 1 September 2022, succeeding company founder and now former CEO Howard Schultz.
Thirty Years Of Experience
Following the global search for the new leader of Starbucks, Narasimhan joined the company as incoming CEO on 1 October 2022, bringing nearly 30 years of experience leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.
According to the coffee giant, over the past five months, he has embarked on a unique immersion experience, travelling to work with partners (employees) in over 30 stores, manufacturing plants and in support centres around the world, earning his barista certification along the way.
Narasimhan became immersed in the reinvention plans for the company, led by Schultz, who returned as interim CEO from 4 April 2022.
Engaging The Leadership Team
As he ascends to the role, Narasimhan will continue engaging the leadership team, sharing his early findings and insights and assessing opportunities for the company as it charts a path forward, Starbucks noted.
Speaking of his new role, Narasimhan said, “I am humbled to officially step into my role as Starbucks’ chief executive officer, leading our incredible team of more than 450,000 green-apron partners around the world.
“The foundation Howard has laid – building from scratch an iconic global brand fuelled by a lasting passion to uplift humanity – is truly remarkable, and I am honoured to have the opportunity to build on this deep heritage.
“As a human connection business, we have limitless possibilities to deliver for our partners, our customers, our investors and our communities through every cup and every connection. I am excited to work alongside our partners worldwide to unlock the limitless future of Starbucks.”