Laxman Narasimhan Net Worth & Salary As The Brand New Starbucks CEO
Laxman Narasimhan, a new CEO and a seasoned executive in the FMCG sector, will move from London to Seattle on October 1 in order to take over as the next CEO of Starbucks. Narasimhan will assume his new role as CEO of Starbucks.
Laxman Narasimhan, an Indian-American business executive who was born on April 15, 1967, previously worked for PepsiCo as the company’s chief commercial officer before being promoted to the position of CEO at Reckitt Benckiser.
In October of 2022, it is projected that he would take over as the new CEO of Starbucks, succeeding Howard Schultz. In October, Narasimhan, an experienced executive in the fast-moving consumer goods (FMCG) industry, will move his family from London to Seattle in order to assume leadership of Starbucks.
In the beginning, he will work closely with Howard Schultz, who is serving as interim CEO, before he joins the Board on April 1, 2019, when he officially takes over.
What Is Laxman Narasimhan Net Worth & Salary As Starbucks CEO?
The source claims that Laxman Narasimhan, the next CEO of Starbucks, will likely have a net worth of roughly $25.9 million by the year 2022.
Before departing McKinsey in 2012, Laxman Narasimhan worked there for the previous 19 years, rising through the ranks to become the director of the New Delhi office as well as the site manager for that location.
Since joining PepsiCo in 2012, Narasimhan has worked his way up through the company to become the Chief Commercial Officer.
In addition to these roles, he also served as PepsiCo’s Global Chief Commercial Officer, CEO of the company’s operations in Latin America, Europe, and Sub-Saharan Africa, and Chief Financial Officer of PepsiCo Americas Foods. All of these executive positions were held simultaneously.
Later in the month of September 2019, Laxman Narasimhan was appointed to succeed Rakesh Kapoor as CEO of Reckitt Benckiser. The individual who will succeed Howard Schultz as CEO of Starbucks also serves as a trustee at the Brookings Institution and is a member of the council there.
He currently sits on the Board of Directors at Verizon and formerly held a position on the Build Back Better Council established by the Prime Minister of the United Kingdom.
Laxman Narasimhan’s Background And Family
In Pune, India, Laxman Narasimhan was raised. He got a master’s degree in German and international studies from the Lauder Institute at the University of Pennsylvania in addition to his bachelor’s degree in mechanical engineering from the College of Engineering Pune in Pune, India.
In addition, a Master of Business Administration degree with a concentration in Finance from the Wharton School at the University of Pennsylvania. Regarding the aspects of his personal life that are known to the public, Narasimhan is a resident of Greenwich, Connecticut; he is married; and he has two children. He is fluent in six different tongues.
Laxman Narasimhan, the CEO of Starbucks, has over 30 years of experience managing and advising international consumer-facing brands.
In addition to this, he has a proven track record of leading consumer-centric and digital breakthroughs as well as the creation of businesses that have a distinct mission. Laxman Narasimhan was formerly the Chief Executive Officer of Reckitt, a multinational corporation that focuses on consumer health, hygiene, and nutrition.
His Career Path, Laxman Narasimhan, Starbucks’ New Chief Executive Officer
It is projected that Laxman Narasimhan would take over as CEO of Starbucks in October 2022, succeeding Howard Schultz in that role.
Starbucks Corporation is an American multinational corporation that operates as the world’s largest coffeehouse chain. The firm’s headquarters are located in Seattle, Washington, United States.
Notably, Starbucks is commonly held responsible for the expansion of the second wave of coffee culture. This is because Starbucks offered customers a wider selection of coffee experiences.
Laxman Narasimhan, a business executive who is of Indian ancestry, was just recently promoted to the position of chief executive officer at the organization. At the moment, Howard Schultz is serving as CEO of the company in an acting capacity.
On Thursday, a decision was made to appoint Laxman Narasimhan, a native of India, to take over as CEO of Starbucks Corporation from Howard Schultz.
The 55-year-old individual, who earlier that day tendered his resignation as CEO of Reckitt Benckiser, will begin working for the international chain of coffee shops on October 1 of this year.
Laxman has a history of successfully leading complex operational enterprises and motivating teams in developed as well as developing nations to achieve market-leading levels of performance.
Reckitt pointed out that this, in conjunction with the candidate’s outstanding interpersonal and leadership talents, makes him a good contender for the role.
Laxman Narasimhan-Net Worth
Laxman Narasimhan Career
Laxman Narasimhan spent 19 years working for McKinsey, climbing through the ranks to become director and site manager for their office in New Delhi. He left his position there in 2012. Narasimhan started working at PepsiCo in 2012 and quickly worked his way up to the role of Chief Commercial Officer. He served as the Global Chief Commercial Officer of PepsiCo, as well as the CEO of the firm’s operations in Latin America, Europe, and Sub-Saharan Africa, and as the Chief Financial Officer of PepsiCo Americas Foods. He has held many other executive positions inside the company.
Later on in the month of September 2019, Laxman Narasimhan took over as CEO of Reckitt Benckiser, succeeding Rakesh Kapoor in that role. The newly appointed Chief Executive Officer of Starbucks is also a member of the Council on Foreign Relations and a trustee of the Brookings Institution. He is currently a member of the Board of Directors at Verizon and has previously served on the Build Back Better Council that was appointed by the Prime Minister of the United Kingdom.
During his 19 years of service with McKinsey, during which time he rose through the ranks to become director and site manager for their office in New Delhi, Narasimhan worked till 2012. He started working at PepsiCo in 2012 and eventually became the chief commercial officer there.
In September of 2019, he was promoted to the position of CEO at Reckitt Benckiser, succeeding Rakesh Kapoor.
Starbucks made the announcement that Nara
simhan will succeed Howard Schultz as CEO on September 1, 2022. Since Kevin Johnson’s resignation in March 2022, Howard Schultz has been serving as the company’s interim CEO. Narasimhan will take over for Schultz.
Laxman Narasimhan Education
Laxman Narasimhan is a graduate of the College of Engineering at the University of Pune in Pune, India. He specializes in mechanical engineering. The Lauder Institute of The University of Pennsylvania awarded Narasimhan his Master of Arts in German and International Studies, and The Wharton School of The University of Pennsylvania awarded him his Master of Business Administration in Finance.
Laxman Narasimhan Net Worth
As of the month of March in 2022, it is predicted that Laxman Narasimhan, the new CEO of Starbucks, has a net worth of approximately 25.9 million dollars.
The Starbucks Corporation, with its headquarters in Seattle, Washington, is the largest coffeehouse chain in the world. The company is an American multinational corporation that operates a chain of coffeehouses and roastery reserves. Notably, Starbucks is usually seen as the company that is responsible for the rise of the second wave of coffee culture. This is because Starbucks was the first company to introduce a greater variety of coffee experiences.
As of the most recent update, the corporation has chosen a professional with Indian ancestry named Laxman Narasimhan to serve as its new Chief Executive Officer. At the moment, Howard Schultz is acting as CEO of the company in an interim capacity.
Laxman Narasimhan Career And Achievements
Laxman started his professional life at McKinsey & Company, where he worked for more than twenty years and was eventually promoted to partner. Before being promoted to the post of director, he served the organization in New Delhi in the capacity of location manager.
He was in charge of directing the company’s strategy that was centered on retail and was responsible for concentrating on consumer, retail, and technology projects in the United States of America, Asia, and India. After that, in 2012, he became an employee of PepsiCo, where he held a number of leadership responsibilities, including that of Global Chief Commercial Officer.
He succeeded Rakesh Kapoor as CEO of Reckitt Benckiser in September 2019, taking over the role from Rakesh Kapoor. The news that Narasimhan will be taking over as CEO of Starbucks on September 1, 2022, was announced by the company.
Laxman Narasimhan’s Marriage, Family, His Relationship Status
There is a spouse for Narasimhan. The happy couple now has two little ones of their own. The public domain does not include a great deal of information regarding his wife and his children.
According to various estimations, Laxman Narasimhan has a net worth of at least $25.3 million. In addition to receiving a signing bonus in the amount of $1.6 million dollars in cash, Narasimhan will receive a base salary of $1.3 million dollars for the entire year.
He currently resides in Greenwich, Connecticut, with his wife and their two children. Narasimhan is married. He is fluent in six different tongues.
Frequently Asked Questions:
Where was Laxman Narasimhan born?
The New Starbucks CEO Laxman Narasimhan Was Born In India.
Laxman Narasimhan served as the CEO of which company before Starbucks?
Before Starbucks, Laxman Narasimhan Was The Chief Executive Officer Of Reckitt, A Multinational Consumer Health, Hygiene, And Nutrition Company.
Who served as the CEO of Starbucks before Laxman Narasimhan?
Howard Schultz Served As The Starbucks CEP Before Laxman Narasimhan.