![]() Schultz was set to testify on the matter before U.S. ![]() ![]() More Starbucks stores have also unionized. The changeover comes as the coffee chain leans into customizable beverages, and a younger consumer base that executives have described as loyal and armed with disposable income, and the notion of coffee as an “ affordable luxury,” as rising prices make for pickier customers. “Our company is like a river - the stewards of it will change over time, but it’s always growing and changing, carving a new path and moving forward to something better,” he wrote.Īdded Schultz: “The world needs Starbucks - and Starbucks needs all of you.” Schultz, meanwhile, wrote a letter to the company’s leaders on his last day as CEO, calling them the “future of Starbucks.” There, he “led the firm’s thinking on the future of retail,” Starbucks said in its hiring announcement. He also served as a senior partner at McKinsey & Co., where he focused on consumer, retail and technology matters. Narasimhan is the former CEO of consumer-health company Reckitt Benckiser Group Read more: New CEO of Starbucks - a ‘world-class leader,’ says Howard Schultz - will do a stint as barista “He became immersed in the reinvention plans for the company led by Schultz.” “Over the past five months, has embarked on a unique immersion experience, traveling to work with partners (employees) in over 30 stores, manufacturing plants and in support centers around the world, earning his barista certification along the way,” the company said in a Monday morning release. In a statement, Starbucks said Narasimhan had nearly 30 years’ experience in consumer goods and “advising retail, grocery, restaurant and e-commerce companies.” Narasimhan succeeds Howard Schultz, the company’s founder, who will remain on Starbucks’ board of directors. Starbucks declined to comment on the timing of the move, which arrives just ahead of Starbucks’ annual shareholder meeting on Thursday.
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