Laxman Narasimhan was chosen the new CEO of Starbucks on Thursday. He has expertise in worldwide business and consumer brands, most notably overseeing the turnaround of Reckitt Benckiser.
Kevin Johnson, a former Microsoft and Juniper Networks executive, resigned as Starbucks CEO in March. Howard Schultz was interim CEO as Starbucks searched for a successor.
Thursday afternoon, Narasimhan, 55, became CEO. After migrating from London to Seattle, he'll join the firm on Oct. 1. Schultz will remain temporary CEO until April 1, 2023.
He announced his resignation on LinkedIn on Wednesday, saying he was leaving "a stronger and more resilient organisation" than when he joined three years ago.
Narasimhan was formerly PepsiCo's worldwide CMO. Before that, he was a senior partner at McKinsey & Company, overseeing its consumer, retail, and technology groups in the U.S., Asia, and India.
Narasimhan arrived to the U.S. in 1991 to study Wharton.
Starbucks wanted a "true servant leader with humility," and Schultz said Narasimhan had "entrepreneurial DNA."