Indian-origin Former PepsiCo executive Laxman Narasimhan has been named Starbucks' new CEO.

Indian-origin Starbucks has appointed Laxman Narasimhan as their new Chief Executive Officer (CEO). Reckitt, which also manufactures Durex condoms, Enfamil infant formula, and Mucinex cold syrup, was led by Laxman Narasimhan as CEO. Howard Schultz has been replaced by the 55-year-old, who most recently served as PepsiCo's global chief commercial officer.

Laxman Narasimhan will begin working for Starbucks on October 1 but won't assume leadership until April 2023, according to Starbucks. Up until that time, Laxman Narasimhan will collaborate closely with interim CEO Howard Schultz and will serve as the company's leader.

Starbucks claimed record demand from April to June as a result of brisk sales in the United States, as Covid regulations in China had delayed the company's operations.

In a letter formally greeting Narasimhan, Schultz described him as "a strategic and transformational leader with vast experience in establishing successful consumer brands."

LAXMAN NARASIMHAN, WHO IS HE?

Laxman Narasimhan earned his undergraduate degree from the University of Pune and his master's degree in German and international studies from the Lauder Institute at the University of Pennsylvania. He is a graduate of the University of Pune. He also holds a master's degree in business management from the Wharton School of the University of Pennsylvania.

The Covid-19 epidemic, which increased demand for Reckitt's health and hygiene goods, was managed by him after he joined the firm in September 2019. He oversaw operations in Latin America, Europe, and Sub-Saharan Africa while serving as PepsiCo's worldwide chief commercial officer.

As a senior partner at the consulting firm McKinsey & Company, Narasimhan also worked on the company's consumer, retail, and technology practices in the United States, Asia, and India.

Laxman Narasimhan's resignation as Reckitt's CEO was announced on Thursday, and as a result, the company's FTSE-listed shares dropped 4%.