Laxman Narasimhan
American business executive (born 1967) From Wikipedia, the free encyclopedia
American business executive (born 1967) From Wikipedia, the free encyclopedia
Laxman Narasimhan (born 15 May 1967)[1] is an Indian-born American business executive and former chief executive officer (CEO) of Starbucks and Reckitt.
Laxman Narasimhan | |
|---|---|
Narasimhan in 2017 | |
| Born | 15 May 1967 Pune, India |
| Education | College of Engineering, Pune (BTech) University of Pennsylvania (MA, MBA) |
| Title | Former CEO of Starbucks and Reckitt |
| Predecessor | Howard Schultz (acting) Kevin Johnson |
| Successor | Brian Niccol |
| Children | 2 |
He was previously chief commercial officer (CCO) of PepsiCo. He joined Starbucks as interim CEO in October 2022, and succeeded Howard Schultz as CEO in April 2023. He was ousted by the board of Starbucks in August 2024.[2][3][4]
Narasimhan was born on May 15, 1967, in Pune, India into a Hindu family.[1][5] He earned a degree in mechanical engineering from the College of Engineering, Pune, an MA in international studies from the Lauder Institute at the University of Pennsylvania, and an MBA in finance from the Wharton School, also at the University of Pennsylvania.[6][7]
Narasimhan worked for McKinsey for 19 years until 2012, rising to director and location manager for their New Delhi office.[6] In 2012, he joined PepsiCo, rising to chief commercial officer.[6]
Narasimhan succeeded Rakesh Kapoor as CEO of Reckitt Benckiser in September 2019,[7][8] formulating a turnaround plan which was intended to rejuvenate the company "following a series of missteps and lacklustre growth that marked the final years of his predecessor".[9] In September 2022 the company unexpectedly announced his resignation, explaining that he had "decided for personal and family reasons to relocate back to the United States and has been approached for an opportunity that enables him to live there."[10]
In September 2022, Starbucks announced that Narasimhan would become the company's next CEO.[2] He succeeded Howard Schultz, who had been interim CEO since Kevin Johnson resigned in March 2022.[3][11] Prior to Narasimhan taking over as CEO, he trained as a barista for six months to learn what changes needed to be made.[12][13] The New York Times has described Narasimhan as less resistant to Starbucks unionization than Schultz.[14]
In 2023, Narasimhan's total compensation from Starbucks was $14.6 million, or 1,028 times the median employee pay at Starbucks for that year.[15]
In August 2024, Starbucks announced that Narasimhan would leave the company effective immediately, and was replaced by Chipotle CEO Brian Niccol.[16]
Narasimhan made headlines for saying he never works past 6 pm.[17]
Narasimhan is married with two children, and lives in Greenwich, Connecticut.[18] He speaks six languages.[7]
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