Indian-origin Laxman Narasimhan will pilot coffee chain, Starbucks
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Washington: Starbucks becomes another multinational company to get an Indian-origin at its helm soon.
Laxman Narasimhan, who left as CEO of Reckitt that makes Durex condoms and Mucinex cold syrup, will join Starbucks in October.
Starbucks Corp on Thursday named Narasimhan as its next chief executive officer as the world's biggest coffee chain is going through a turbulent period, according to Reuters.
The coffee chain is "reworking its business model" as the unionized workers in its 200 units are demanding better benefits and wages during the surging inflation.
As well as facing higher costs for ingredients and labour, business has slowed for Starbucks at one of its biggest overseas markets, China, from Covid restrictions.
Narasimhan will spend next few months learning about Starbucks, before taking up the helm in April 2023.
Starbucks is working on its "Reinvention" plan, to ensure better customer experience, better wages for baristas, improving employee welfare and re-imagining stores.
Until Narasimhan takes up the reins, interim CEO Howard Schultz will continue to lead the company.
Narasimhan successfully piloted Reckitt through the pandemic after joining it in September 2019, becoming the company's first external candidate at its helm.
He boosted sales of its health and hygiene products, and helped overcome its baby formula crisis in the United States, culminating in a raise in its annual forecast earlier this year.
The 55-year old Narasimhan, previously the global chief commercial officer of PepsiCo, was praised by Reckitt investors for revitalizing the company after a sales slump.
A Reckitt official reportedly said that Narasimhan took a balanced approach in working out the kinks for the company.
