Starbucks has a new CEO, Laxman Narasimhan, who has taken up the position earlier than expected. He spent months studying the business, including completing a 40-hour barista course. Narasimhan plans to work a barista shift once a month at Starbucks locations across the country to gain more insights into the business and customers.
Focus on Customers
Narasimhan believes that his experience working in establishments over the past six months has given him a better understanding of customers, and he wants to further improve the customer experience at Starbucks. He plans to gain first-hand experience by working a barista shift once a month to gain insights that can help make better business decisions. Narasimhan’s goal is to improve the experience for both customers and employees. One of Narasimhan’s priorities as CEO is to focus on long-term hiring and retention.
First public appearance
Narasimhan took over from Howard Schultz, who had ended his third tenure as CEO. Schultz built an iconic global brand from the ground up.
“Today I trust you all with Starbucks – something that ranks second in my heart after my beloved family,” Schultz wrote in a letter to the company’s management team that was reviewed by CNBC.
Narasimhan was previously CEO of Reckitt, the company that owns brands such as Lysol, Durex, and Mucinex, and he has also worked at PepsiCo and McKinsey. He officially became CEO and chaired the company’s annual shareholder meeting, his first public appearance as CEO.
“I am proud to officially assume the role of CEO of Starbucks, leading our incredible team of more than 450,000 partners around the world. The foundation that Howard laid – building an iconic global brand from the ground up, fueled by a passion to elevate humanity – is truly remarkable, and I am honored to have the opportunity to build on that profound legacy,” said Narasimhan.
