Starbucks Names New CEO
September 1, 2022 2:26PM PDT
This file photo taken on June 26, 2019, shows a Starbucks sign outside a Starbucks coffee shop in downtown Pittsburgh, Pa. Starbucks is closing 16 stores around the country because of repeated safety issues, including drug use and other disruptive behaviors that threaten staff. (AP Photo/Gene J. Puskar, File)
SEATTLE, Wash. (AP) – Starbucks has named a longtime PepsiCo executive as its new CEO.
The coffee giant said Thursday that Laxman Narasimhan will join Starbucks on Oct. 1 after relocating from London to Seattle, where Starbucks is based.
He will work closely with Starbucks’ interim CEO, Howard Schultz, through April 1, when he will assume the CEO role and join the company’s board.
Narasimhan was most recently CEO of Reckitt, a U.K.-based consumer health and nutrition company that makes Lysol cleaner and Enfamil infant formula, among other products.
Reckitt had announced Narasimhan’s surprise departure earlier Thursday.
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