New Delhi:
Laxman Narasimhan, a graduate of Engineering from the University of Pune, has been named as the new CEO of coffee giant Starbucks, adding to the long list of companies of Indian origin that are doing phenomenally well in several top positions in decision-making in various sectors worldwide, especially in The United States.
Mr. Narasimhan is the elected chief executive officer of the five-decade-old popular coffee chain Starbucks Coffee Company, which has 34,000 stores worldwide and is the main roaster and seller of specialty coffee.
Mr. Narasimhan will join the coffee chain as its new CEO on October 1 this year, after moving from London to Seattle, and will work closely with interim head Howard Schultz, before taking on the top role and on April 1, 2023 joins the Board of Directors.
The newly appointed chief, Mr. Narasimhan, has nearly 30 years of experience leading and advising global consumer brands. Most recently, he served as chief executive officer of Reckitt, a FTSE-12-listed multinational consumer health, hygiene and nutrition company, where he led the company through a major strategic transformation and a return to sustainable growth.
A Mechanical Engineering graduate, Mr. Narasimhan previously held several leadership roles at PepsiCo, including global chief commercial officer, where he was responsible for the company’s long-term strategy and digital capabilities.
He also served as CEO of the company’s operations in Latin America, Europe and Sub-Saharan Africa, and previously as CEO of PepsiCo Latin America and the CFO of PepsiCo Americas Foods. Prior to joining PepsiCo, Mr. Narasimhan was a senior partner at McKinsey & Company, where he focused on consumer, retail and technology practices in the US, Asia and India and led the company’s thinking about the future of retail.
How did Laxman Narasimhan react to his appointment as head of coffee giant Starbucks?
He said he was humbled to join the iconic company at such a pivotal time as its reinvention and investment in its partner and customer experiences position it to meet the changing demands the world faces today and us. prepare for an even stronger future .
“Starbucks’ commitment to elevating humanity through connection and compassion has long distinguished the company and built an unparalleled, globally admired brand that has changed the way we connect over coffee,” he added.
Mr. Narasimhan holds a degree in mechanical engineering from the College of Engineering, University of Pune. He holds an MA in German and International Studies from the Lauder Institute of the University of Pennsylvania and an MBA in Finance from the Wharton School of the University of Pennsylvania.
During Mr. Narasimhan’s tenure with the company, he will receive a starting base salary of USD 1,300,000 per year, and an annual target cash opportunity equal to 200 percent of base salary.
People of Indian descent hold top positions in business, including academics, information technology and scientific research.
The list includes Sundar Pichai who heads Google and its parent company Alphabet, Satya Nadella of Microsoft, Arvind Krishna of IBM and Shantanu Narayen of Adobe.
Indian-origin companies that reached the top positions became visible in the 1990s.
It all reportedly started in the mid-1990s, with the appointment of Raj Gupta as chairman and CEO of Rohm & Haas, Ramani Ayer as CEO and chairman of The Hartford Financial Services Group, Inc and Rakesh Gangwal as CEO of the US. Aviation group.
At the beginning of the 21st century, Indra Nooyi became the CEO of PepsiCo.
Since then, there has been no looking back. Following is a list of incumbent CEOs of Indian descent in the US:
Satya Nadella, CEO at Microsoft
Parag Agrawal, CEO of Twitter
Arvind Krishna, Chairman and Chief Executive Officer of IBM
Vivek Sankaran, President and CEO of Albertsons
Sanjay Mehrotra, President and CEO at Micron Technology
Shantanu Narayen, Chairman and CEO at Adobe Inc
CS Venkatakrishnan, CEO at Barclays
Sundar Pichai, CEO of Google and parent company Alphabet
Punit Renjen, CEO at Deloitte
Revathi Advaithi, CEO at Flex
Shar Dubey – recently relieved of her role as CEO at Match
Sonia Syngal – recently relieved of her role as CEO at Gap
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)