From Pepsi to Pumpkin Latte: Indian American Laxman Narasimhan Named CEO of Starbucks
- The former PepsiCo. executive will join the company next month, “after relocating from London to the Seattle area, before assuming the role and joining the board on April 1, 2023.
Indian American Laxman Narasimhan has been named the new chief executive officer of Starbucks, the company announced today (Sept. 1). He will join the company as incoming CEO on Oct. 1, “after relocating from London to the Seattle area and will work closely with Howard Schultz, interim CEO, before assuming the role and joining the board on April 1, 2023,” the company said.
In his new role, described by The New York Times as “one of the world’s most prominent corporate leadership roles,” Narasimhan, 55, will “oversee roughly 35,000 stores and 383,000 employees globally.” The Times noted that it will “take charge of the world’s largest coffee chain as it grapples with a growing unionization movement, rising inflation and losses in China.”
In the company press release, Schultz said Narasimhan “is uniquely positioned to shape this work and lead the company forward with his partner-centered approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets.”
Noting that he is “humbled to be joining this iconic company at such a pivotal time,” Narasimhan said, “Starbucks’ commitment to uplift humanity through connection and compassion has long distinguished the company, building an unrivaled, globally admired brand that has transformed the way we connect over coffee.”
The Pune-born executive held various leadership roles at PepsiCo, including as global chief commercial officer, where he was responsible for the company’s long-term strategy and digital capabilities.
Narasimhan most recently served as CEO of health and hygiene company Reckitt, which owns brands such as Lysol, Durex and Mucinex. “Since his appointment in September 2019, Laxman has led a successful rejuvenation of the company’s strategy, execution and foundational capabilities,” read a Reckitt press release. “The company’s purpose – to protect, heal and nurture in the relentless pursuit of a cleaner and healthier world – is, and remains, foundational to the future direction of the company; as do its environmental, societal and governance commitments.”
He moved to the United States in 1991 to attend the University of Pennsylvania’s Wharton School. He then joined the consulting giant McKinsey & Company, eventually becoming a senior partner. In 2012, he moved to PepsiCo, where he rose through the ranks, overseeing operations in Latin America, Europe and sub-Saharan Africa, and becoming chief commercial officer.
Previously, the Pune-born executive held various leadership roles at PepsiCo, including as global chief commercial officer, where he was responsible for the company’s long-term strategy and digital capabilities. He also served as CEO of the company’s Latin America, Europe and Sub-Saharan Africa operations, and previously as the CEO of PepsiCo Latin America, and the CF) of PepsiCo Americas Foods. Prior to PepsiCo, Narasimhan was a senior partner at McKinsey & Company, where he focused on its consumer, retail and technology practices in the U.S., Asia and India and led the firm’s thinking on the future of retail.
Additionally, he is a trustee of the Brookings Institution, a member of the Council on Foreign Relations, served as a member of the UK Prime Minister’s Build Back Better Council, and is a member of Verizon’s Board of Directors.
He holds a degree in Mechanical Engineering from the College of Engineering, University of Pune. He has an MA in German and International Studies from The Lauder Institute at The University of Pennsylvania and an MBA in Finance from The Wharton School of The University of Pennsylvania. According to The Times, Narasimhan had been looking for a job that would return him to the United States, where his two adult children live.