Indian-origin Laxman Narasimhan becomes new Starbucks CEO

A former PepsiCo executive has been appointed as Starbucks' new CEO. Laxman Narasimhan will join Starbucks on October 1st, the coffee giant said on Thursday

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Narasimhan, 55, most recently served as CEO of Reckitt, a consumer health, hygiene, and nutrition corporation based in the United Kingdom that produces goods including Lysol cleaning and Enfamil formula, among others

Narasimhan's unexpected departure had been announced by Reckitt earlier on Thursday. Following the announcement, Reckitt's shares fell by 5%.

Narasimhan formerly served in a number of executive positions at PepsiCo, including global chief commercial officer

Additionally, he oversaw operations in Latin America, Europe, and Sub-Saharan Africa as the company's CEO

A senior partner at McKinsey & Co., Narasimhan worked on the company's consumer, retail, and technology practises in the US, Asia, and India