Laxman Narasimhan has officially assumed the position of CEO at Starbucks, taking over from Howard Schultz as of Monday. According to a report by CNBC TV18, the Seattle-based coffee giant informed about the latest move in a statement released today.
Reportedly, Narasimhan will make his first public address as the chief executive officer of Starbucks at the company’s annual shareholder meeting on Thursday.
This announcement comes nearly two weeks earlier than previously anticipated.
The announcement of Narasimhan’s official appointment has come as a surprise, as Starbucks had previously indicated that the transition would not be complete until the end of March, with Narasimhan assuming full duties in April.
Prior to his appointment, Narasimhan served as the chief executive of Reckitt, a company that owns brands such as Lysol, Durex, and Mucinex.
Narasimhan had also worked at major corporations such as PepsiCo and McKinsey, gaining valuable experience in the consumer goods industry and consulting.
Narasimhan spent 19 years at McKinsey, where he advised companies across the retail, consumer goods, and healthcare industries in the U.S., Asia, and India.
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