Starbucks has named Laxman Narasimhan as its next chief executive officer.
The company made the announcement Thursday, CNBC reports. Narasimhan will officially start his new role on October 1.
“His deep, hands-on experience driving strategic transformations at global consumer-facing businesses makes him the ideal choice to accelerate Starbucks growth and capture the opportunities ahead of us,” Starbucks board chair Mellody Hobson said in a statement, according to CNBC.
According to CBS, the businessman was born in Pune, India, in 1967. He received an engineering degree from a university in India before moving to the United States where he earned a master’s degree in international studies and business administration from the University of Pennsylvania.
Narasimhan is currently serving as the CEO of The Reckitt Benckiser Group, which also announced Thursday that he would be stepping down, CNN reports.
Howard Schultz will continue to serve as the interim CEO until Narasimhan takes over. He was picked as the interim CEO back in April following the retirement of Kevin Johnson, who served as CEO for five years, CNBC reports.
CNN reports that Narasimhan is taking over during a pivotal time for Starbucks. The company recently announced it would raise prices. It is continuing to thwart attempts by employees to unionize as workers across throughout the country strike.
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