Laxman Narasimhan Net Worth and Salary as Starbucks’ Brand New CEO |All Social Updates

Laxman Narasimhan Net Worth and Salary as Starbucks’ Brand New CEO

Laxman Narasimhan, a new CEO and a veteran FMCG leader, will move from London to Seattle on October 1 to become Starbucks’ next CEO. Narasimhan will assume his new role as CEO of Starbucks.

Laxman Narasimhan, an Indian-American businessman born 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.

He is expected to succeed Howard Schultz as the new CEO of Starbucks in October 2022. In October, Narasimhan, a veteran executive in the Fast Moving Consumer Goods (FMCG) industry, will relocate with his family from London to Seattle to take over the helm of Starbucks.

Initially, he will work closely with Howard Schultz, who will serve as interim CEO before joining the board on April 1, 2019 when he officially takes over.

What is Laxman Narasimhan Net Worth and Salary as CEO of Starbucks?

The source claims that by 2022, Laxman Narasimhan, Starbucks’ next CEO, is likely to have a net worth of around $25.9 million.

Before leaving McKinsey in 2012, Laxman Narasimhan worked there for the last 19 years and rose through the ranks to become director of the New Delhi office and site manager for that site.

Since joining PepsiCo in 2012, Narasimhan has worked his way up the company to Chief Commercial Officer.

In addition to these roles, he has also served as PepsiCo’s Global Chief Commercial Officer, CEO of the company’s Latin America, Europe and sub-Saharan Africa operations, and Chief Financial Officer of PepsiCo Americas Foods. All of these leadership positions were filled at the same time.

Later in September 2019, Laxman Narasimhan was appointed to succeed Rakesh Kapoor as Reckitt Benckiser’s CEO. The person who will succeed Howard Schultz as CEO of Starbucks also serves as a trustee at the Brookings Institution and serves on its council.

He currently serves on Verizon’s board of directors and previously held a position on the Build Back Better Council set up by the UK Prime Minister.

Background and family of Laxman Narasimhan

Laxman Narasimhan grew up in Pune, India. He earned a master’s degree in German and International Studies from the Lauder Institute at the University of Pennsylvania and a bachelor’s degree in mechanical engineering from the College of Engineering Pune in Pune, India.

Additionally, he holds a Masters of Business Administration degree with a concentration in Finance from the Wharton School of the University of Pennsylvania. Regarding the publicly known aspects of his personal life, Narasimhan resides in Greenwich, Connecticut; He is married; and he has two children. He is fluent in six different languages.

Laxman Narasimhan, Starbucks CEO, has over 30 years of experience managing and advising international consumer-facing brands.

Additionally, he has a proven track record of leading consumer and digital breakthroughs, as well as creating companies with a clear mission. Laxman Narasimhan was formerly Chief Executive Officer of Reckitt, a multinational company focused on consumer health, hygiene and nutrition.

His career path, Laxman Narasimhan, the new Starbucks chief executive officer

It is forecast that Laxman Narasimhan will succeed Howard Schultz as CEO of Starbucks in October 2022.

Starbucks Corporation is an American multinational corporation that operates as the world’s largest coffeehouse chain. The company’s headquarters are in Seattle, Washington, USA.

In particular, Starbucks is widely held responsible for the spread of the second wave of coffee culture. This is because Starbucks offered customers a wider choice of coffee experiences.

Laxman Narasimhan, a businessman of Indian descent, was recently promoted to the organisation’s Chief Executive Officer. Howard Schultz currently serves as CEO of the company in an acting capacity.

A decision was made on Thursday to appoint Laxman Narasimhan, a native of India, to take over as CEO of Starbucks Corporation from Howard Schultz.

The 55-year-old, who tendered his resignation as CEO of Reckitt Benckiser earlier this day, will join the international coffee shop chain on October 1 this year.

Laxman has a long history of successfully leading complex operational companies and motivating teams in developed and developing countries to achieve market-leading levels of performance.

Reckitt pointed out that this, coupled with the candidate’s outstanding interpersonal and leadership qualities, makes him a good candidate for the position.

Laxman Narasimhan’s career

Laxman Narasimhan worked for McKinsey for 19 years and rose through the ranks to become a director and site manager for their New Delhi office. He left his position there in 2012. Narasimhan joined PepsiCo in 2012 and quickly worked his way up to Chief Commercial Officer. He has served as PepsiCo’s global chief commercial officer, as well as CEO of the company’s Latin America, Europe and sub-Saharan Africa operations and chief financial officer of PepsiCo Americas Foods. He has held many other senior positions within the company.

Later in September 2019, Laxman Narasimhan took over as CEO of Reckitt Benckiser, succeeding Rakesh Kapoor in that role. Starbucks’ newly appointed chief executive officer is also a member of the Council on Foreign Relations and a trustee of the Brookings Institution. He currently serves on Verizon’s Board of Directors and was previously a member of the Build Back Better Council appointed by the Prime Minister of the United Kingdom.

During his 19-year tenure at McKinsey, where he rose through the ranks to become a director and site manager for their New Delhi office, Narasimhan worked until 2012. He began working at PepsiCo in 2012, eventually becoming Chief Commercial Officer .

In September 2019, he was promoted to CEO of Reckitt Benckiser, succeeding Rakesh Kapoor.

Starbucks announced that Narasimhan will succeed Howard Schultz as CEO on September 1, 2022. Howard Schultz has served as the company’s interim CEO since Kevin Johnson’s resignation in March 2022. 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 March 2022, Laxman Narasimhan, the new Starbucks CEO, is reported to have a net worth of approximately $25.9 million.

Headquartered in Seattle, Washington, Starbucks Corporation is the world’s largest coffeehouse chain. The company is an American multinational that operates a chain of coffeehouses and roasters. In particular, Starbucks is usually credited with being the company 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.

With the recent update, the company has appointed a professional of Indian descent named Laxman Narasimhan as its new chief executive officer. Howard Schultz currently serves as interim CEO of the company.

Laxman Narasimhan Career and Achievements

Laxman began his professional life at McKinsey & Company, where he worked for more than twenty years and was eventually promoted to partner. Prior to his promotion to Director, he served as Site Manager for the New Delhi organization.

He was responsible for aligning the company’s retail-focused strategy and for focusing on consumer, retail and technology projects in the United States, Asia and India. He then joined PepsiCo in 2012, where he held a variety of leadership roles including Global Chief Commercial Officer.

He succeeded Rakesh Kapoor as CEO of Reckitt Benckiser in September 2019, taking over Rakesh Kapoor’s role. The news that Narasimhan will assume the position of CEO of Starbucks on September 1, 2022 has been announced by the company.

Laxman Narasimhan’s Marriage, Family, Relationship Status

There is a spouse for Narasimhan. The happy couple now have two children of their own. The public does not contain much information about his wife and children.

According to various estimates, Laxman Narasimhan has a net worth of at least $25.3 million. In addition to a $1.6 million cash signing bonus, Narasimhan will receive a base salary of $1.3 million for the full year.

Personal life

He currently resides in Greenwich, Connecticut with his wife and two children. Narasimhan is married. He is fluent in six different languages.

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