Laxman Narasimhan to be the next CEO of Starbucks

2 Sep 2022 , 08:29 AM

Laxman Narasimhan was chosen by Starbucks Corp. to lead a “reinvention” of the largest coffee chain in the world. He is recognized for revitalizing the manufacturer of Lysol disinfectants.

Mr. Narasimhan served as the CEO of Reckitt, a company that also produces Mucinex cold syrup, Durex condoms, and Enfamil infant formula. When he made that announcement earlier in the day, shares of Reckitt, a company listed on the FTSE, dropped by 4%.

There is unrest at Starbucks right now. Over 200 of its US locations have joined the union in the last year as employees fight for improved benefits and pay amid rising inflation.

While dealing with rising expenses for goods and labor, the company is also changing its focus from cafés that encouraged prolonged stays to mobile pickup and delivery. Additionally, the US coffee chain’s operations in one of its main international markets have stalled due to COVID limitations in China.

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