Laxman Narasimhan’s main challenge will be solving Starbucks’ growing labor issues.
The world’s largest coffee chain Starbucks recently named Laxman Narasimhan as its next Chief Executive Officer (CEO). now, Guardian Has said in a report that the company will give him a good salary. If he reaches his goal, Mr Narasimhan, who left his position at Reckitt Benckiser to become the CEO of Starbucks, will receive an annual salary of around $17.5 million (Rs 140 crore), the outlet said. With Reckitt Benckiser, Mr. Narasimhan had an annual salary of £6 million (Rs 55 crore).
The 55-year-old’s new role is an improvement in many ways. According to Guardian According to the report, Reckitt Benckiser was valued at £45 billion, while Starbucks’ revenue is around $100 billion (£87 billion). Due to this, there will also be a significant increase in the personal incentives of Mr. Narasimhan.
Starbucks is the world’s largest roaster and retailer of specialty coffee with 34,000 locations worldwide and a five-decade history of success.
After moving from London to Seattle, Mr. Narasimhan is about to start working for a coffee company As the upcoming CEO on 1st October this year. He will work closely with interim CEO Howard Schultz, before formally taking over as CEO and joining the board on April 1, 2023.
Mr. Narasimhan has nearly 30 years of experience in managing and consulting international consumer-facing brands.
He completed his mechanical engineering from the University of Pune and has held several executive positions at PepsiCo, including its Global Chief Commercial Officer, where he was in charge of long-term business strategy and technical prowess.
Resolving Starbucks’ growing labor relations issues will be one of Mr. Narasimhan’s main challenges as the company’s CEO. Starbucks said in a statement that Mr. Narasimhan will spend his first few months getting to know staff members around the world.
Mr. Narasimhan also serves as a trustee of the Brookings Institution, is a director of Verizon, and is a member of the Council on Foreign Relations.