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New Starbucks CEO Laxman Narasimhan takes over for Howard Schultz
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Laxman Narasimhan officially took over as the CEO of Starbucks on Monday, two weeks ahead of schedule. The move comes as former chief executive Howard Schultz prepares to appear before a Senate committee that's been looking into the coffee giant's response to the widespread unionization campaign.
Starbucks said in September that Narasimhan would replace Schultz on April 1.
Narasimhan joined the company as incoming CEO in October 2022 and has been working closely with Schultz, who had been serving as interim CEO since Kevin Johnson retired in April 2022.
STARBUCKS CEO KEVIN JOHNSON TO RETIRE, HOWARD SCHULTZ TO RETURN
"Our company is like a river – the stewards of it will change over time, but it’s always growing and changing, carving a new path and moving forward to something better," Schultz said in a letter to Starbucks senior leadership. "As I step away, I leave you all as the stewards, in service of all of our partners."