Starbucks' new CEO to take office in April

Starbucks has announced the appointment of Laxman Narasimhan as its new CEO, effective April.

Narasimhan was most recently CEO of health and hygiene company Reckitt. Laxman Narasimhan will join the company in October before assuming his new role. American coffee shop chain Starbucks announced on Thursday that its next CEO is Laxman Narasimhan. Narasimhan most recently served as CEO of Reckitt, the health and hygiene company that owns brands such as Lysol, Durex and Mucinex. He will step down as of September 30. Until the 55-year-old Narasimhan takes over, Howard Schult will continue as interim CEO of the coffee chain, which has become a global brand. Schultz will remain on Starbucks' board of directors and advise Narasimhan after Narasimhan takes over. Schultz has been back at the helm since April, when his hand-picked successor Kevin Johnson retired after five years at the helm.Commenting on the new appointment, Starbucks Founder Howard Schultz said Laxman Narassimhan is a world-class leader with deep knowledge of consumer products. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!