Starbucks Names New CEO - Lifestyle UG Starbucks Names New CEO - Lifestyle UG

Starbucks Names New CEO

On October 1, Laxman Narasimhan will take over as CEO of Starbucks. He will start his job for real in April and will also join the board of directors at that time.

Reckitt Benckiser Group, where Narasimhan was most recently CEO, said Thursday morning that he would be leaving.

Howard Schultz, who took over as interim CEO from Kevin Johnson last spring, will stay on until a new CEO is hired. He will stay on the board of Starbucks.

Narasimhan will spend six months with Schultz, other company leaders, employees, and customers. He'll also learn Schultz's reinvention plan.

Schultz wrote in an open letter in July, "The Starbucks business as it is built today is not set up to fully meet the changing behaviors, needs, and expectations of our partners or customers."

Narasimhan said he is "humbled" to join Starbucks as the company reinvents and invests in partner and customer experiences to meet changing demands.

Schultz said that he was a strategic, transformational leader who had built consumer brands in the past. He added, "He is the leader we were looking for."

In a statement released Thursday morning, the British company said, "Laxman has decided for personal and family reasons to move back to the United States and has been offered a chance to live there."

Schultz said that Narasimhan is the right person for the job on Thursday. The appointment of Narasimhan comes before Starbucks's annual investor day on September 13.