Indian-origin Laxman Narasimhan becomes new Starbucks CEO

Starbucks Corp on Thursday named Laxman Narasimhan as its next chief executive officer.

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Mr Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex cold syrup.

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He announced his departure from that post earlier in the day, and FTSE-listed Reckitt's shares fell 4%.

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Mr Narasimhan will join Starbucks in October but will take the helm in April 2023, after spending a few months learning about the company.

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Until then, interim-CEO Howard Schultz will continue to lead the company.

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