Effective March 20th Lasman Narasimhan will serve as the CEO and board member of Starbucks Inc. succeeding founder Howard Schultz. He was appointed on October 1, 2022, after an extensive search. Over the past five months, he has visited numerous Starbucks stores and has participated in strategic planning with Schultz on wage and salary revisions including benefits, and store innovations, upgrades and expansion.
Schultz returned as CEO of Starbucks in early April 2022 and reversed the declining stock price and return on investment under his successor.
In assuming the position Narasimhan noted, “I am honored to have the opportunity to build on the deep heritage established by Howard.” He added, “As a human-connection business we have limitless possibilities to deliver for our partners, our customers, our investors and our communities through every cup and every connection.”