New Delhi. Another Indian raised the honor of the country by going abroad. An Indian has achieved a high position in a foreign company. According to the information received, Starbucks Corp on Thursday appointed Indian-origin Laxman Narasimhan as the Chief Executive Officer (CEO). It is worth noting that Starbucks Corp has achieved the top position of International Company on the strength of its merit. Narasimhan has been entrusted with the responsibility of “rebuilding” the world’s largest coffee chain. Earlier, Narasimhan was the CEO of Reckitt, which manufactures Durex condoms, Enfamil baby formula and Mucinex cold syrup. He had announced his resignation as CEO earlier in the day, shortly after shares of FTSE-listed Reckitt fell 4%.
It is being told that Starbucks has been going through a very difficult phase for some time now. Unionism has dominated the company’s more than 200 US stores over the past year. Employees seem to be pushing for better benefits and wages in times of rising inflation. The company, on the other hand, is making efforts to revamp its business model with a focus on cafes. Due to the COVID restrictions imposed in China, its business in the company’s largest overseas market has come to a standstill. But the company wants to make a comeback. It is for these reasons that Narasimhan has been given this great responsibility. Narasimhan will join Starbucks in October, but in April 2023 the company and its “reinvestment” plan will be considered, which will include paying better salaries for baristas, improving employee welfare and customer experience. expenses will be included.
Interim-CEO Howard Schultz will take over the leadership of the company until Narasimhan joins the company. Let us tell you, Schultz took over the reins of the company for the third time in April after the retirement of Kevin Johnson. Notably, Narasimhan had joined Reckitt Company in September 2019 and became the first external candidate to hold the position of CEO at Reckitt since its formation in 1999. Narasimhan had brought the company to the heights while leading the company during the Corona epidemic. During this time, he had significantly increased the sales of the company’s health and hygiene products.