- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Meet man, an Indian, who led Rs 886390 crore company, stepped down as CEO after...
Laxman Narasimhan took over Starbucks in March 2023 and has seen the coffee chain largely struggle under his purview.
Updated : Aug 13, 2024, 09:49 PM IST
 "Meet man, an Indian, who led Rs 886390 crore company, stepped down as CEO after...")
TRENDING NOW
)
Shilpa Shetty breaks down, Salman Khan cancels shoot; celebs rush to Lilavati hospital after Baba Siddique shot dead
)
Amid divorce rumours of Aishwarya, Abhishek Bachchan, video of Jaya announcing his engagement with Karisma goes viral
)
Bigg Boss 18: Rajat Dalal, Vivian Dsena, Avinash Mishra, Chahat Pandey, top 5 most popular contestants this week
)
Aishwarya Rai's biggest flop was rejected by Priyanka Chopra, ruined director's career, didn't earn even Rs 10 crore
)
Bigg Boss 18: Shilpa Shirodkar is in awe of Avinash Mishra, comments on muscular body, says 'when he removes his...'
)
'Fake drama': Sania Mirza, Shoaib Malik celebrate their son Izhaan's birthday in Dubai; netizens troll Pak cricketer due
)
Amid Aishwarya Rai, Abhishek Bachchan's divorce rumours, Amitabh Bachchan quietly visits Mumbai temples for his son's..
)
Aishwarya Rai fans express anger after Abhishek Bachchan, Amitabh Bachchan skip her birthday post: 'She needs to...'
)
Anushka Sharma shares FIRST photo of Akaay, Vamika to celebrate Virat Kohli's birthday
)
Amid divorce rumours of Abhishek Bachchan and Aishwarya Rai, Aaradhya praises mother in viral video
)
Meet IAS officer who cracked UPSC exam twice without coaching, became youngest IPS at 21, is Vikas Divyakirti's...
)
Pakistani TikTok star Minahil Malik reacts after leaked video with boyfriend goes viral, says, 'I'm done...'
)
Rinku Singh buys luxurious bungalow after being retained by KKR for Rs 13 crore, SEE pics
)
Gandii Baat, XXX show actress Aabha Paul looks stunning in sultry photos, sexy videos
)
Meet Rasha Thadani, Raveena Tandon's 19-year-old glamorous daughter, set to make her debut opposite Ajay Devgn's...
In a surprise move, Starbucks has replaced Indian-origin CEO Laxman Narasimhan who is stepping down. Niccol will start in his new role on September 9, the company announced in a press release. CFO Rachel Ruggeri will serve as interim CEO until that time, it said. Niccol will be Starbucks' fourth CEO in just two years.
Narasimhan, 57, is stepping down from his role as CEO and as a member of the Starbucks board with immediate effect. “During his tenure, he improved the Starbucks partner experience, drove significant innovation in our supply chain, and enhanced our store operations,” the release said.
Narasimhan is also leaving the board. He took over Starbucks, which has a market cap of USD 105.61 billion (Rs 886390 crore) in March 2023. He has seen the coffee chain largely struggle under his purview. Most recently, the chain's sales dropped 3 per cent globally at stores open for at least a year, including a 2 per cent drop in its home North America market, CNN reported.
Who is Laxman Narasimhan?
He is an Indian-American business executive, who led Starbucks and Reckitt as CEO. He was previously chief commercial officer (CCO) of PepsiCo. He joined Starbucks as interim CEO in October 2022 and succeeded Howard Schultz as CEO in March 2023.
Born in Pune, he earned a degree in mechanical engineering from the College of Engineering, Pune. He did an MA in International Studies from The Lauder Institute at the University of Pennsylvania. Laxman also holds an MBA in Finance from The Wharton School, University of Pennsylvania. He started his career in 1993 at McKinsey and worked there for 19 years until 2012. Narasimhan is married with two children, and lives in Greenwich, Connecticut, US.
