Indian-origin Laxman Narasimhan becomes new Starbucks CEO
Starbucks Corp on Thursday named Laxman Narasimhan as its next chief executive officer.
Mr Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex cold syrup.
He announced his departure from that post earlier in the day, and FTSE-listed Reckitt's shares fell 4%.
Mr Narasimhan will join Starbucks in October but will take the helm in April 2023, after spending a few months learning about the company.
Until then, interim-CEO Howard Schultz will continue to lead the company.