The New Starbucks CEO Laxman Narasimhan net worth, salary, bio

The New Starbucks CEO Laxman Narasimhan net worth, salary, bio

Laxman Narasimhan is an Indian-American business executive who was chief commercial officer of PepsiCo, and chief executive officer of Reckitt. American coffee giant Starbucks on Thursday, 1 September, announced Indian-origin Laxman Narasimhan as the new Chief Executive Officer (CEO) of the company. He will take over from Howard Schultz, the interim CEO, on 1 April 2023. Apart from his professional life he is a married man and father of children. Scroll down to learn more about Laxman Narasimhan Net Worth, salary, wife, children, family, and many more.

 Laxman Narasimhan Net Worth & Salary As The Brand New Starbucks CEO

The new CEO of Starbucks, Laxman Narasimhan net worth is estimated to be about  $25.9 million as of now. According to Bloomberg, Narasimhan will receive an annual base salary of $1.3 million, a $1.6 million cash sign-on bonus, and a $9.25 million replacement equity grant to compensate for incentives he forfeited by leaving Reckitt. In fiscal 2023, he’ll be eligible for annual equity awards of as much as $13.6 million.

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.

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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 m onth 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 Narasimhan 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.

About the Career and Achievements of Laxman Narasimhan

Laxman spent more than two decades working with Mckinsey & Company, where he began his professional career. He worked as the company’s location manager in New Delhi before being given the director’s position.

He was responsible for leading the company’s retail-focused strategy and focusing on consumer, retail, and technology projects in the US, Asia, and India. He later joined PepsiCo in 2012 and assumed a number of executive positions, including Global Chief Commercial Officer,

In September 2019, he took over from Rakesh Kapoor as CEO of Reckitt Benckiser. Starbucks made the announcement that Narasimhan would take over as CEO on September 1, 2022.

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Who is Laxman Narasimhan’s wife? How many kids are?

Laxman Narasimhan is a happily married man and father of two children. His wife’s name is unknown. He kept his personal life privately from social media. Even he does not share about his marriage date and when the couple met for the first time. Laxman Narasimhan’s wife is popular as a CEO of Starbucks, Laxman Narasimhan. Laxman has shared his wife’s photo on social media but he is not relieved of any more information about his wife.

The couple is blessed with two childrens daughter and a son. His children’s birthday date and name is also unknown. As he is active on social media and shares photos with his wife and children too. But he is not relieved about his children’s personal information. According to his Instagram photo it seems that Laxman Narasimhan is enjoying his life with his family and living happily. They lived in Greenwich, Connecticut, United States.

Who was the CEO of Starbucks before Laxman Narasimhan?

American coffee giant Starbucks on Thursday, 1 September, announced Indian-origin Laxman Narasimhan as the new Chief Executive Officer (CEO) of the company. He will take over from Howard Schultz, the interim CEO, on 1 April 2023. 

Howard D. Schultz is an American businessman and author who served as both chairman and CEO of Starbucks from 1986 to 2000, from 2008 to 2017, and as interim CEO from 2022. Schultz also owned the Seattle SuperSonics basketball team from 2001 to 2006. Schultz began working at the coffeehouse Starbucks in 1982.

Laxman Narasimhan Education

Laxman Narasimhan is a graduate of the College of Engineering at the University of Pune in Pune, India. He specialises 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.

When and where was Laxman Narasimhan born? age, Parents, siblings, and nationality

Laxman Narasimhan was born on 15 April 1967. He is 55 years old as of now. Narasimhan was born and raised in Pune. Laxman Narasimhan was born to his parents. His parents’ names are not known. His siblings’ names are  also unknown. He keeps his professional life private from public eyes. He holds American nationality.