Starbucks Names New Ceo Cnn

Reckitt Benckiser Group, where Narasimhan most recently served as CEO, announced earlier on Thursday that he would step down. Narasimhan takes on the role at a pivotal time for Starbucks. In the United States, the company is trying to fend off a wave of unionization in the United States. Meanwhile, severe Covid-19 restrictions have hit the company’s operations in China, a critical market. In the six months before Narasimhan officially takes over, he will spend time with Schultz, other company leaders, employees and customers and familiarize himself with the reinvention plan recently drawn up by Schultz, who has said the company needs an overhaul. “The Starbucks business as it is built today is not built to fully meet the evolving behaviors, needs and expectations of our associates or customers,” Schultz wrote in an open letter in July. “It is not designed for the future we aspire to for ourselves and the communities we serve.” Schultz’s turnaround plan includes “radically improving” the employee experience and redesigning stores, he wrote at the time. The company has since made changes, including closing some stores, citing safety concerns. Narasimhan said in a statement Thursday that he is “humbled” to join Starbucks “as reinvention and investment in our partner and customer experiences position us to meet the changing demands we face today.” On Thursday, Schultz said Narasimhan is the right person for the job. “He is a strategic and transformational leader with deep experience in building powerful consumer brands,” Schultz said. “He’s the leader we’ve been looking for.” Narasimhan’s previous company, Reckitt Benckiser, is the UK-based manufacturer of several hygiene and health brands, including Durex condoms, Lysol and Mucinex. He was appointed CEO of the multi-billion dollar company in 2019. The British company said in a statement earlier Thursday that “Laxman has decided for personal and family reasons to move back to the United States and has been approached about an opportunity to live there.” Prior to joining Reckitt Benckiser, Narasimhan held several positions at PepsiCo (PEP), including global commercial director. He was also a senior partner at McKinsey, focusing on consumer and retail. Mellody Hobson, independent chairman of the Starbucks board, called Narasimhan “an inspirational leader,” adding that “his deep, hands-on experience driving strategic transformations in global consumer-facing businesses makes him an ideal choice.” News of Narasimhan’s appointment comes ahead of Starbucks’ annual investor day on September 13.

title: “Starbucks Names New Ceo Cnn Klmat” ShowToc: true date: “2022-11-27” author: “Richard Ritter”

Reckitt Benckiser Group, where Narasimhan most recently served as CEO, announced earlier on Thursday that he would step down. Narasimhan takes on the role at a pivotal time for Starbucks. In the United States, the company is trying to fend off a wave of unionization in the United States. Meanwhile, severe Covid-19 restrictions have hit the company’s operations in China, a critical market. In the six months before Narasimhan officially takes over, he will spend time with Schultz, other company leaders, employees and customers and familiarize himself with the reinvention plan recently drawn up by Schultz, who has said the company needs an overhaul. “The Starbucks business as it is built today is not built to fully meet the evolving behaviors, needs and expectations of our associates or customers,” Schultz wrote in an open letter in July. “It is not designed for the future we aspire to for ourselves and the communities we serve.” Schultz’s turnaround plan includes “radically improving” the employee experience and redesigning stores, he wrote at the time. The company has since made changes, including closing some stores, citing safety concerns. Narasimhan said in a statement Thursday that he is “humbled” to join Starbucks “as reinvention and investment in our partner and customer experiences position us to meet the changing demands we face today.” On Thursday, Schultz said Narasimhan is the right person for the job. “He is a strategic and transformational leader with deep experience in building powerful consumer brands,” Schultz said. “He’s the leader we’ve been looking for.” Narasimhan’s previous company, Reckitt Benckiser, is the UK-based manufacturer of several hygiene and health brands, including Durex condoms, Lysol and Mucinex. He was appointed CEO of the multi-billion dollar company in 2019. The British company said in a statement earlier Thursday that “Laxman has decided for personal and family reasons to move back to the United States and has been approached about an opportunity to live there.” Prior to joining Reckitt Benckiser, Narasimhan held several positions at PepsiCo (PEP), including global commercial director. He was also a senior partner at McKinsey, focusing on consumer and retail. Mellody Hobson, independent chairman of the Starbucks board, called Narasimhan “an inspirational leader,” adding that “his deep, hands-on experience driving strategic transformations in global consumer-facing businesses makes him an ideal choice.” News of Narasimhan’s appointment comes ahead of Starbucks’ annual investor day on September 13.