Starbucks (NASDAQ: SBUX) recently made an announcement that the company appointed a new Chief Executive Officer (CEO). The new CEO of Starbucks is Laxman Narasimhan. He will also be a member of the Starbucks Board of Directors.
The new CEO of Starbucks is set to join the position on October 1, 2022. For this, he is expected to relocate to the Seattle Area from London and also needs to work closely with the interim CEO, Howard Schultz. He will be joining the Starbucks Board of Directors on April 1, 2023.
Official Statements For The New CEO of Starbucks
Howard Schultz will act as the interim CEO until Laxman Narasimhan is able to relocate and is done with the transition period. He will also act as an adviser to the new CEO. On the announcement of this change in the authorities, Schultz commented that:
It is yet to be seen how well Starbucks’ new CEO will be able to uphold the integrity of the coffee chain company. Moreover, the growth of the business is also something that we have to watch on for.