Laxman Narasimhan Net Worth and Salary As Starbucks’ New CEO

Laxman Narasimhan Net Worth and Salary As Starbucks’ New CEO

Laxman Narasimhan, a new CEO and a seasoned executive in the FMCG sector, will move from London to Seattle on October 1 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 born on April 15, 1967, previously worked at PepsiCo as the company’s chief commercial officer before being promoted to the position of CEO at Reckitt Benckiser.

In October of 2022, he is expected to 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 to lead Starbucks.

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

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

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

Before leaving McKinsey in 2012, Laxman Narasimhan worked there for the past 19 years, rising through the ranks to become director of the New Delhi office as well as site manager for that location.

Since joining PepsiCo in 2012, Narasimhan has worked his way up the company to become 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 executive positions are held simultaneously.

Later in the month of September 2019, Laxman Narasimhan was appointed to succeed Rakesh Kapoor as the 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 a council member there.

He currently sits on the Board of Directors at Verizon and previously held a position on the Build Back Better Council established by the Prime Minister of the United Kingdom.

Laxman Narasimhan’s Background And Family

Laxman Narasimhan was raised in Pune, India. He earned 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. As for 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 languages.

Laxman Narasimhan, the CEO of Starbucks, has more than 30 years of experience in 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 creating businesses with unique missions. Laxman Narasimhan is the former Chief Executive Officer of Reckitt, a multinational corporation focused on consumer health, hygiene, and nutrition.

His Career Path, Laxman Narasimhan, New Chief Executive Officer of Starbucks

Laxman Narasimhan is expected to 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 largest coffeehouse chain in the world. The company’s headquarters are located in Seattle, Washington, United States.

Interestingly, Starbucks is generally responsible for the expansion of the second wave of coffee culture. This is because Starbucks has offered customers a wider selection of coffee experiences.

Laxman Narasimhan, a business executive of Indian origin, was recently promoted to the position of chief executive officer in the organization. Today, Howard Schultz serves as the company’s CEO 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 submitted his resignation as CEO of Reckitt Benckiser, will start working for the international chain of coffee shops on October 1 of this year.

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

Reckitt points out that this, along 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, rising through the ranks to become director and site manager for their New Delhi office. He left his position there in 2012. Narasimhan started working at PepsiCo in 2012 and quickly rose to the role of Chief Commercial Officer. He served as Global Chief Commercial Officer of PepsiCo, as well as CEO of the company’s operations in Latin America, Europe, and Sub-Saharan Africa, and as Chief Financial Officer of PepsiCo Americas Foods. He also held many executive positions within the company.

Later 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 previously served on the Build Back Better Council appointed by the Prime Minister of the United Kingdom.

During his 19 years of service at McKinsey, during which time he rose through the ranks to become director and site manager for their New Delhi office, Narasimhan worked until 2012. He started working at PepsiCo in 2012 and later 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 Narasimhan will succeed Howard Schultz as CEO on September 1, 2022. Since the resignation of Kevin Johnson in March 2022, Howard Schultz has served as the company’s interim CEO. Narasimhan will replace Schultz.

Laxman Narasimhan Education

Laxman Narasimhan graduated from 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, Laxman Narasimhan, the new CEO of Starbucks, is predicted to have a net worth of around 25.9 million dollars.

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. Interestingly, Starbucks is generally seen as the company responsible for the rise of the second wave of coffee culture. This is because Starbucks was the first company to introduce a wider variety of coffee experiences.

In the latest update, the corporation has chosen a professional of Indian origin named Laxman Narasimhan to serve as its new Chief Executive Officer. For now, Howard Schultz is acting as the company’s CEO in an interim capacity.

Laxman Narasimhan Career And Achievements

Laxman began his professional life at McKinsey & Company, where he worked for more than twenty years and was later promoted to partner. Before he was promoted to the position of director, he served the organization in New Delhi in the capacity of location manager.

He is in charge of directing the company’s retail-centric strategy and is responsible for focusing on consumer, retail, and technology projects in the United States of America, Asia, and India. Thereafter, in 2012, he became an employee of PepsiCo, where he held several leadership responsibilities, including Global Chief Commercial Officer.

He replaced Rakesh Kapoor as CEO of Reckitt Benckiser in September 2019, taking over the role from Rakesh Kapoor. The news that Narasimhan will take over as CEO of Starbucks on September 1, 2022, the company announced.

Laxman Narasimhan’s Marriage, Family, His Relationship Status

There is a wife for Narasimhan. The happy couple now have two young children. Much information about his wife and children is not included in the public domain.

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

Personal life

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

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