Recent reports suggest that Starbucks has appointed a new CEO called Laxman Narasimhan. It might interest you that this person has previously been the CEO of Reckitt which manufactures products like Durex, Enfamil baby formula, and Mucinex cold syrup.
Comments about Laxman Narasimhan
“He is a strategic and transformational leader with deep experience in building powerful consumer brands,” Schultz said in a letter to employees welcoming Narasimhan. “While we are surprised Starbucks chose a successor outside the discretionary sector, we are optimistic Mr. Narasimhan’s global perspectives as a CEO of a public multinational corporation and background in beverages at PepsiCo will serve Starbucks well into the next chapter,” Cowen analyst Andrew Charles wrote in a note.
“He took a very balanced approach to strategy … he didn’t go in all guns blazing – he took a very systematic approach to get things right,” said Ashish Sinha, portfolio manager at Reckitt shareholder Gabelli.
Starbucks present condition
Currently, Starbucks is going through a rough phase. According to recent reports, over 200 of its stores in the USA have ganged up together. In these times when inflation is on the rise, the employees are asking for improved wages and benefits from the company. The new CEO, Narasimhan plans to join the company from October. He plans to learn all about Starbucks ‘ reinvention plans and improve the condition of the baristas. Apart from this, he also plans to focus on improving consumers’ experience and re-imagining stores.
About Laxman Narasimhan
Laxman Narasimhan is appreciated for the work he did for Reckitt during the pandemic. He played a major role in resolving a major crisis regarding baby formula in the United States. Laxman Narasimhan’s work has been laid out from October to April. The new CEO visit the baristas, will go and see the coffee farms and also visit the manufacturing plants.
For people who don’t know much about Starbucks, it is an extremely popular American coffeehouse. Its coffee is popular all around the world. The company focuses on giving its customers the best cup of coffee teamed up with excellent service. This company considers its employees to be its biggest assets because they make Starbucks what it is. The company also believes in giving back to the planet. Their constant effort is to give more than they use. The store tries to store more carbon than it emits and has tried to adopt healthy practices to emit waste. Therefore, Starbucks is doing its job of protecting the planet.