New CEO of Starbucks

Starbucks has tapped Laxman Narasimhan as its next CEO.

Narasimhan will become incoming CEO at Starbucks on October 1.

He will officially begin his role in April and will then join the company’s board of directors, as well.

The Reckitt Benckiser Group, where Narasimhan most recently served as CEO, announced earlier on Thursday that he would be stepping down.

Howard Schultz, who took over Starbucks from outgoing CEO Kevin Johnson in an interim capacity last spring, will stay on as interim CEO throughout the transition. He will remain on Starbucks’ board.

Narasimhan steps into the role at a pivotal moment for Starbucks.

Narasimhan said in a statement Thursday that he is “humbled” to join Starbucks “as the reinvention and investments in the partner and customer experiences position us to meet the changing demands we face today.”

On Thursday, Schultz said Narasimhan is the right person for the job.

“He is a strategic and transformational leader with deep experience in building powerful consumer brands,” Schultz said. “He is the leader we were looking for.”

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