Starbucks appoints Laxman Narasimhan as CEO

Starbucks has announced that Laxman Narasimhan will become the company’s next Chief Executive Officer and a member of the Starbucks Board of Directors.
Narasimhan will join Starbucks as incoming CEO on October 1, 2022, after relocating from London to the Seattle area and will work closely with Howard Schultz, interim CEO, before assuming the CEO role and joining the Board on April 1, 2023.

“I look forward to working closely with Howard, the Board, and the entire leadership team – and to listening and learning from Starbucks partners – as we collectively build on this work to lead the company into its next chapter of growth and impact.”

Narasimhan brings nearly 30 years of experience leading and advising global consumer-facing brands.

“Laxman is an inspiring leader. His deep, hands-on experience driving strategic transformations at global consumer-facing businesses makes him the ideal choice to accelerate Starbucks growth and capture the opportunities ahead of us. His understanding of our culture and values, coupled with his expertise as a brand builder, innovation champion, and operational leader will be true differentiators as we position Starbucks for the next 50 years, generating value for all our stakeholders. On behalf of the entire Board, I am thrilled to welcome Laxman as Starbucks next CEO,” said Mellody Hobson, Independent Starbucks Board of Directors chair.

“When I learned about Laxman’s desire to relocate, it became apparent that he is the right leader to take Starbucks into its next chapter. He 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. As I have had the opportunity to get to know him, it has become clear that he shares our passion of investing in humanity and in our commitment to our partners, customers, and communities. The perspectives he brings will be a strong asset as we build on our heritage in this new era of greater well-being. I greatly look forward to our partnership over the coming months and years,” said Schultz.

“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. I am humbled to be joining this iconic company at such a pivotal time, as the Reinvention and investments in the partner and customer experiences position us to meet the changing demands we face today and set us up for an even stronger future,” said Narasimhan. “I look forward to working closely with Howard, the Board, and the entire leadership team – and to listening and learning from Starbucks partners – as we collectively build on this work to lead the company into its next chapter of growth and impact.”

Previously, Narasimhan 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 CFO 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.