Howard Schultz’s era at the helm of Starbucks is coming to an end, again.
The world’s most popular mocha maker on Thursday appointed Indian-American Laxman Narasimhan as its new chief executive. Starbucks said Narasimhan is the right leader to take on the job because he brings three decades of experience overseeing world-renowned companies.
Narasimhan will spend his first few weeks getting to know Starbucks by visiting stores, manufacturing plants and coffee farms, the company said. Here are five more things to know about Narasimhan.
It is quadrilingual
Narasimhan was born in Pune, India in 1967. After earning an engineering degree in his hometown, Narasimhan left India at the age of 24 to pursue graduate studies in the US. He now holds a master’s degree in international studies and business administration from the University of Pennsylvania.
Along the way, Narasimhan, now 55, learned to speak German, English, Spanish and three different Indian dialects, Britain’s Daily Telegraph reported. Narasimhan is married with two children but keeps his family details private.
It will officially start next year
Starbucks said Thursday that Narasimhan will join the company on Oct. 1. Schultz will remain at the helm for a few months and then transition to the company’s board of directors. Narasimhan is scheduled to officially start as CEO next April.
Starbucks is taking over at an interesting time
As Narasimhan prepares to lead the company, changes are afoot at the coffee giant. Schultz is in the midst of rebuilding the store layout, upgrading the team and bolstering the morale of employees, many of whom left the coronavirus pandemic feel undervalued.
Many of those underappreciated workers they have decided to unionize — a decision to which the management of the company has opposed. At least 233 Starbucks stores in the United States have them voted in favor of unionization since the end of last year.
He is a long-time business executive
Narasimhan was most recently the CEO of Reckitt, the company whose brands include Clearasil skin products, Enfamil baby formula, Lysol cleaner and Woolite laundry detergent.
Prior to Reckitt, Narasimhan was the managing director of PepsiCo’s operations in Latin America, Europe and Sub-Saharan Africa. Narasimhan also worked as a senior partner at consulting firm McKinsey, where he focused on the consumer, retail and technology practices. He now serves on Verizon’s board of directors.
It is known as a change agent
The business world points to Narasimhan’s time at Reckitt as an example of how he can quickly improve a company’s financial position. “He’s a true operator and has the DNA of an entrepreneur,” Schultz told the New York Times’ DealBook.
Narasimhan joined Reckitt three years ago, at a time when the company was mired in controversy and falling short of financial targets. It took just six months to make significant changes — firing top executives and selling underwhelming brands, Bloomberg News reported. Reckitt now has a much stronger financial footing, HSBC analyst Jeremy Fialko wrote in a research note on Thursday.
The Associated Press contributed to this report.
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