Starbucks has announced that Laxman Narasimhan has assumed the role of Chief Executive Officer and will join the company’s board of directors. Narasimhan was named incoming CEO on 1 September 2022, succeeding company founder and now former CEO, Howard Schultz.
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.
“I am humbled to officially step into my role, 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,” says Narasimhan.
“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.”
Over the past five months, he has embarked on a unique immersion experience, traveling to work with employees in over 30 stores, manufacturing plants and in support centres around the world, earning his barista certification along the way.
Narasimhan will lead the Starbucks Annual Shareholder Meeting on 23 March. As he ascends into the role, Narasimhan will continue engaging the leadership team, sharing his early learnings and insights, and assessing opportunities for the company as they chart a path forward.
“Laxman’s intensive immersion into the business coupled with his extensive experience as a proven brand builder, innovator and operator have uniquely prepared him to lead Starbucks into its next phase of growth,” says Mellody Hobson, Independent Starbucks Board of Directors Chair.
“This immersion has deepened Laxman’s understanding of Starbucks culture and values. In this time of learning and listening, he has already won the hearts and minds of our partners around the world.”
For more information, visit www.starbucks.com