- 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
)
India vs Australia Live Streaming: When and where to watch first Test of Border-Gavaskar Trophy on TV and online
)
Before Pakistani TikTok star Minahil Malik, actress Rida Isfahani's MMS video leaked online by...
)
Hinduja Group firm gets key approval for acquisition of Anil Ambani's debt-ridden Reliance Capital
)
Allu Arjun, Rashmika Mandanna's Pushpa 2 has already earned Rs 1000 crore before its release, here's how
)
Gandii Baat, XXX actress Aabha Paul sets Instagram on fire with hot photos
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan tells Amitabh Bachchan: 'I hope people don't...'
)
Amitabh Bachchan praises Abhishek Bachchan's new film, netizens ask 'kash ye Aishwarya...'
)
7 times XXX, Gandii Baat actress Aabha Paul crashed the internet by flaunting her sexy curves
)
After separation from ex-wife Saira Banu, AR Rahman makes major announcement: 'I am deeply grateful to...'
)
Shweta Tiwari's wedding photos with Bigg Boss 13 contestant Vishal Aditya Singh go viral, here's the truth behind them
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
Mukesh Ambani's Jio to get tough competition from BSNL, plan provides unlimited benefits for less than Rs...
)
Meet Mathira Khan, Pakistani influencer whose private video leaked after Minahil Malik, Imsha Rehman
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
Amid Aishwarya Rai-Abhishek Bachchan divorce rumours, Jaya Bachchan says 'not my daughter' in viral video
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.
