On Thursday, the coffee giant Starbucks announced Laxman Narasimhan as its new CEO (September 1). Prior to his most recent position as CEO of Reckitt Benckiser, an Anglo-Dutch firm that primarily makes consumer goods for health and nutrition, Narasimhan previously worked for PepsiCo and Mckinsey.
Narasimhan joins the ranks of numerous other Indian-American business leaders in the US. He is taking over at Starbucks at a time when American debates about raising the minimum wage for workers and unionisation are at the forefront, with Starbucks prominently included in both.
After spending a few months learning about the company and its “reinvention” plan, which includes paying better wages for baristas, enhancing employee welfare and customer experience, and reimagining stores, Narasimhan will join Starbucks in October but won’t assume leadership until April 2023, according to Reuters.
Due to issues brought on by the pandemic and the growing unionisation in some Starbucks locations, the company is attempting to move its emphasis away from in-person dining and toward deliveries and takeaways. Due to restrictions brought on by frequent lockdowns, sales in China, where there are more than 5,400 stores, have also been hampered.
According to a comment from the current CEO of Starbucks, Howard Schultz, “We were searching for someone who was a true servant leader and had a deep sense of humility… Laxman is a genuine servant leader first and foremost. A servant leader prioritises community and employee development rather than concentrating solely on the success of their organisation.
“Known for his extensive operational acumen, he has a solid track record in establishing purpose-led brands,” according to a statement from Starbucks. He has been successful in organising talent to realise future goals through advancing consumer-centric and digital innovations, building on the histories of the companies.
Starbucks has built an unmatched, widely admired brand that has changed the way people connect over coffee, according to Narasimhan, who said the firm has historically been defined by its efforts to “uplift mankind through connection and compassion.”
I am humbled to join this legendary firm at such a critical time, he added, “as the reinvention and investments in the partner and customer experiences position us to address the changing needs we face today and set us up for an even stronger future.”
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.