The world's largest coffee-chain Starbucks in the hands of an Indian...
Starbucks Corp has announced the appointment of Indian-origin Laxman Narasimhan as its next Chief Executive Officer (CEO).
An Indian-origin man has been tasked with reviving the world-renowned coffee chain Starbucks, which is facing financial turmoil. Starbucks Corp has announced the appointment of Indian-origin Laxman Narasimhan as its next Chief Executive Officer (CEO). Until now, Narasimhan was serving as the CEO of Reckitt.
Laxman Narasimhan will join Starbucks in October. Interim CEO Howard Schultz will continue to lead the company until Narasimhan takes over as CEO. Schultz took over the reins of the company for the third time in April following the retirement of Kevin Johnson.
Earlier, Narasimhan has also worked in many important positions in PepsiCo. He was also Global Chief Commercial Officer at PepsiCo. He also served as CEO of the company's Latin America, Europe and Sub-Saharan African businesses. Narasimhan has also served as a senior partner at the consulting firm McKinsey & Company.
Corona hit the coffee chain-Starbucks, which is climbing again due to great trouble. Workers at the company's nearly 200 stores in the U.S. are unionizing to demand better benefits and wages in line with rising inflation. China is also the largest overseas market for the company. Due to Corona restrictions, the company's business in China has almost stopped. The company wants to re-seat here. Narasimha has been given the helm of the company due to his vast experience of doing business in Asian countries.
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