Laxman Narasimhan is an Indian-born American business executive who has held senior positions at multinational companies including PepsiCo, Reckitt Benckiser and McKinsey. Laxman made headlines when he became CEO of Starbucks.
Wiki/Biography
Laxman Narasimhan was born on Saturday, April 15, 1967, in Pune, Maharashtra, India (age 55; as of 2022). Laxman Narasimhan completed his schooling from St Vincent’s Junior College and later from Loyola High School, Pune in 1984. From 1984 to 1988, he pursued a degree in Mechanical Engineering from College of Engineering, Pune (CoEP). From 1991 to 1993, Laxman Narasimhan studied for a master’s degree in German and international studies and an MBA in finance at the Wharton School of the University of Pennsylvania.
appearance
Height (approximately): 5′ 9″
Hair Color: Salt and Pepper
Eye color: dark brown
family
Parents and siblings
His father is a businessman and his mother is a teacher. While Laxman was studying in Pune, his father died due to illness. Laxman Narasimhan has a brother and a sister. They both died before he was born.
wife and children
Little is known about his wife. He has two children.
Laxman Narasimhan and his family
address
He resides at House Number 235, Weaver Street, Greenwich, CT 06831, United States of America.
Profession
Laxman Narasimhan started his corporate career in 1992 with an American firm called McKinsey & Company. He left the company as a director in 2012 after 19 years with the company. After leaving McKinsey & Company in 2012, Laxman Narasimhan joined PepsiCo as senior vice president (SVP) and chief financial officer (CFO). In 2014, Laxman Narasimhan was promoted and sent to Latin America as CEO of PepsiCo Latin America. Until 2017, he served as CEO of PepsiCo Latin America. In 2016, Laxman Narasimhan became a member of the Brookings Institution’s Board of Trustees. From July 2017 to May 2019, Laxman Narasimhan took over as CEO of PepsiCo Europe and Sub-Saharan Africa. In January 2018, The Nature Conservancy’s Latin American Conservation Council (NCLACC) appointed Laxman Narasimhan to its board of directors until June 2019. In March 2019, PepsiCo appointed Laxman Narasimhan as its global chief commercial officer. There, he not only oversaw the company’s sales and marketing efforts but also developed strategies related to advertising for the products PepsiCo manufactures and sells worldwide. He serves until July 2019. In July 2019, the British Reckitt Benckiser Group appointed Laxman Narasimhan as its chief executive officer (CEO). The company manufactures products related to health, hygiene and nutrition. Talking about joining Reckitt Benckiser, Laxman said in an interview:
I come here with big ambitions, but I also come here with a lot of humility. These ambitions include achieving faster growth and continued excellence by building a very strong, powerful and better business. “
In June 2021, American wireless network company Verizon appointed Laxman Narasimhan as a member of its board of directors. Laxman was hired by US coffee company Starbucks in 2022, after three years with Reckitt Benckiser as CEO. On September 1, 2022, Starbucks announced the selection of Laxman Narasimhan as its next CEO, who will succeed Andrew Schultz on April 1, 2023; however, the company also stated that from October 2022 From April 1 to April 1, 2023, Laxman will work with Andrew as his consultant so that Laxman can become familiar with Starbucks operations. Andrew Schultz said of Laxman in an interview,
Narasimhan brings nearly three decades of experience leading and consulting with consumer-facing brands around the world. He is also known for his deep operational expertise and has a proven track record of developing purpose-driven brands. Building on the company’s history, he successfully rallied talent to realize future ambitions by driving consumer-centric digital innovation. Laxman is also an inspirational leader. His extensive hands-on experience driving strategic transformations of consumer-facing businesses around the world makes him the ideal person to accelerate Starbucks’ growth and seize the opportunities ahead of us. His understanding of our culture and values, combined with his expertise as a brand builder, innovation champion and operational leader, will be a true differentiator in how we position Starbucks for the next fifty years, creating value for all of our stakeholders. value. “
Laxman took office as CEO of Starbucks on March 21, 2023, 11 days before the date he announced his appointment.
salary
As the CEO of Starbucks, Laxman Narasimhan’s annual salary is US$1.3 million, which is approximately 100 million rupees.
Note: Laxman also received a cash signing bonus worth $1.5 million (Rs. 12 crore) and a replacement equity grant worth $9.25 million (Rs. 73 crore).
net worth
According to multiple sources, Laxman Narasimhan’s net worth is approximately $25 million as of 2018.
Facts/Trivia
- According to Laxman Narasimhan, in 2021, while serving as CEO of Reckitt, he was briefing the company’s clients on the potential for Reckitt infant formula A day before the multi-billion dollar sale, he broke his ribs Laxman injured his shoulder after falling down the stairs of his home and was hospitalized and underwent emergency surgery. Laxman also said that despite the injury and surgery, he was still able to give presentations to clients for four hours straight and even answered client inquiries after taking only a few hours of rest after surgery. Talking about this in an interview, Laxman said:
The doctor said that I seemed to have been in a serious car accident. When I got home from the emergency surgery at about 6 a.m., I only had time to lie down on the sofa and started the nearly four-hour treatment. Conduct back-to-back presentations and Q&A with employees, investors, and media. “
- Laxman Narasimhan not only works with several global corporate organizations but also sits on several UK government committees, such as the Foreign Relations Committee and the Prime Minister’s Committee on Building Back Better.
- Laxman Narasimhan is fluent in five languages. He speaks German, English, Hindi, Spanish and Marathi fluently. According to Laxman, he started learning and practicing Spanish on the weekends while he was living in Latin America and working as CEO of PepsiCo.
- According to Laxman Narasimhan’s friend Mukul Sutaone, Laxman is a teammate of Bajaj Managing Director Rajiv Bajaj. They both studied together at College of Engineering, Pune (CoEP).
Categories: Biography
Source: HIS Education