Longtime Starbucks leader Howard Schultz, who came out of retirement while the company searched for a new chief executive, will remain on the board.
officially has a new CEO. The Seattle coffee giant said Monday that Laxman Narasimhan has assumed the role of CEO and joined the company’s board of directors.
Narasimhan succeeds longtime Starbucks leader Howard Schultz, who came out of retirement last spring to serve as interim CEO while the company searched for a new chief executive. Schultz will remain on the company’s board.. Narasimhan, 55, most recently served as CEO of Reckitt, a U.K.-based consumer health, hygiene and nutrition company. Prior to that he was a longtime executive at Pepsico.
“The foundation Howard has laid — building from scratch an iconic global brand fueled by a lasting passion to uplift humanity — is truly remarkable, and I am honored to have the opportunity to build on this deep heritage,” Narasimhan said.
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