Press release
Starbucks Names Laxman Narasimhan as Next Chief Executive Officer
Howard Schultz will continue as interim ceo until April 1, 2023 and serve as an advisor to Narasimhan through calendar 2023 while remaining on Starbucks
About this update from Starbucks Corporation
[{"type":"text","content":"\nHoward Schultz will continue as interim ceo until April 1, 2023 and serve as an advisor to Narasimhan through calendar 2023 while remaining on Starbucks Board of Directors.\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks (NASDAQ: SBUX) today announced that Laxman Narasimhan will become the company’s next chief executive officer and a member of the Starbucks Board of Directors. Narasimhan will join Starbucks as incoming ceo on October 1, 2022 after relocating from London to the Seattle area and will work closely with Howard Schultz, interim ceo, before assuming the ceo role and joining the Board on April 1, 2023.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220901005822/en/Laxman Narasimhan (Photo: Business Wire)\nNarasimhan 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 chief executive officer of Reckitt, a FTSE-12 listed multinational consumer health, hygiene and nutrition company, where he led the company through a major strategic transformation and a return to sustainable growth.\n\n“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 Mellody Hobson, Independent Starbucks Board of Directors chair.\n\nDuring the transition period, Narasimhan will be fully immersed in the company, spending time with Schultz and the management team, partners and customers and gaining in-depth exposure to the brand, company culture, and Reinvention plan. This will initially include Starbucks store immersions, visiting manufacturing plant...