CEO LAXMAN NARASIMHAN
Starbucks’ FY24 losses widen to Rs 81.84 crore for India operations
Of its total loss, Tata Consumer bore Rs 40.91 crore. This is a significant increase compared to the previous year, when Starbucks reported a loss of Rs 24.97 crore on sales of Rs 1086.89 crore.
Starbucks India-origin CEO shares touching story behind his missed Harvard chance and his mother's role in it
Starbucks CEO Laxman Narasimhan recently expressed deep gratitude on LinkedIn for his late mother's profound influence, particularly poignant as he faced his first Mother's Day without her. He credited her resilience and selflessness, emphasizing how her sacrifices shaped his life's trajectory.
Tata chip unit gets Cabinet nod; Sridhar Ramaswamy named Snowflake CEO
The Rs 91,000-crore project will be set up in Gujarat’s Dholera district in partnership with Taiwanese Powerchip Semiconductor Manufacturing Corp (PSMC), Union communications and IT minister Ashwini Vaishnaw told a press briefing on Thursday.
Snowflake appoints IIT alumnus Sridhar Ramaswamy as CEO
Sridhar Ramaswamy, former AI lead at Snowflake, becomes CEO, succeeding Frank Slootman. Snowflake reports Q4 revenue of $775m, FY24 revenue of $2.8b, and FY25 Q1 target of $745-$750m. Stock drops 20% following CEO announcement.
Bullish on India as it has everything in place to accelerate trajectory: Starbucks Global CEO Narasimhan
Starbucks CEO Laxman Narasimhan has announced plans to open a new store every third day in India to operate 1000 cafes by 2028. The company is focusing on the tea-drinking nation's impressive development and improved ease of doing business. Starbucks has 390 stores in India and crossed the Rs 1,000-crore sales mark for the first time since its establishment in 2012.
Here's why Starbucks faces over $11 billion loss in value
Starbucks Corporation, hit by an $11 billion value loss, faces severe repercussions after a solidarity tweet sparked global boycotts. Since November 16, shares plummeted 8.96%, triggering a 12-day consecutive decline—the longest in its history. Amid denial of wrongdoing, CEO Narasimhan remains optimistic despite challenges. The boycott's impact stretches globally, with Egypt layoffs indicating financial strain. Starbucks confronts a daunting task to salvage its reputation amidst escalating tensions and market turmoil.
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Growing list of Indian-origin CEOs at top firms impresses Elon Musk
Currently, Sanjay Mehrotra is the CEO of Micron Technology; Shantanu Narayen is the CEO of Adobe; Satya Nadella is Chairman and CEO of Microsoft; Sunder Pichai is the CEO of Alphabet and Google; Jay Chaudhry is the CEO of Zscaler which is a cloud security company; Arvind Krishna is the CEO of IBM; Neal Mohan is the CEO of YouTube; and George Kurian is the CEO of NetApp, among the top tech giants.
Starbucks CEO Laxman Narasimhan's new role: To serve as a barista once a month
Starbucks' new CEO Laxman Narasimhan has spent the last six months immersing himself in Starbucks, earning his barista certification as well as visiting stores, farms and manufacturing centers across the world.
Starbucks new CEO Laxman Narasimhan takes his seat
Narasimhan, 55, most recently served as CEO of Reckitt, a UK-based consumer health, hygiene and nutrition company. Prior to that he was a longtime executive at Pepsico.
New Starbucks CEO Laxman Narasimhan is a certified barista after a 40-hr training programme!
The Wharton alumnus underwent rigorous training in 33 stores before he takes charge next month.
Indians' innate skills and values can be harnessed to our advantage
From living in large joint families and making ends meet, to struggling to get an admission in a good school or college, and getting a stable job. We learn to manage all this at an early age, while, in other countries, most youngsters grow up in an environment of plenty.
Companies with Indian-origin CEOs make up a chunk of S&P 500’s m-cap
Data sourced from Bloomberg show that the 26 companies that have Indian-origin CEOs effectively constitute over 5% of the S&P 500 Index and 13% of its total market capitalisation.
Starbucks is offering CEO Laxman Narasimhan a big pay cheque. Here are details of his salary
Narasimhan has become the chief executive officer-elect of the five-decade-old popular coffee chain Starbucks Coffee Company which has 34,000 stores worldwide and is the premier roaster and retailer of speciality coffee.
Starbucks gets a taste of India with Laxman Narasimhan as boss
Associates who've worked with Narasimhan call out his core strengths in operations and finance, and his ability to connect across management and frontline teams as he joins the league of India-origin executives leading iconic global companies.
Laxman Narasimhan: Starbucks’ new Indian boss is a move-fast espresso drinker new to retail
By the six-month mark, Narasimhan had come up with a strategy to turn around Reckitt’s performance that has prioritized growth and investment in its health, nutrition and hygiene divisions while shedding noncore brands. Disposals included the Chinese division of infant formula maker Mead Johnson, an ill-fated top of the market $17 billion takeover by predecessor CEO Rakesh Kapoor that was more expensive than all of Reckitt’s previous deals combined.
'It's a tsunami': Anand Mahindra on the latest Indian-origin CEO
Industrialist Anand Mahindra took to Twitter to reflect on the growing trend of hiring Indian-origin CEOs
Demand for filter coffee at Starbucks, Pune jokes take over Twitter as Laxman Narasimhan becomes the new CEO
Narasimhan was raised in Pune, India, where he also earned a degree in mechanical engineering from the College of Engineering.
Laxman Narasimhan is the new Starbucks CEO; Here's a list of Indian-origin leaders in global companies
With this appointment, Narasimhan joins a growing list of Indian-origin CEOs at the helm of US-based global giants, including Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, Alphabet CEO Sundar Pichai and Twitter head Parag Agrawal. Indra Nooyi had served as PepsiCo's CEO for 12 years before stepping down in 2018.
Anand Mahindra lauds Laxman Narasimhan's appointment as Starbucks CEO, says trickle of water turned into a tsunami
Mahindra further noted that top international boardrooms consider Indian-origin bosses to be 'safe' bets.
Former Reckitt head Laxman Narasimhan is new CEO of Starbucks
Narasimhan joins the growing ranks of Indian-descent CEOs heading leading US corporate giants such as Satya Nadella of Microsoft, Sundar Pichai of Alphabet, Shantanu Narayen of Adobe, Punit Renjen of Deloitte and Raj Subramaniam of FedEx. Major former Desi CEOs include Indra Nooyi of PepsiCo and Ajay Banga of Mastercard.
Laxman Narasimhan steps down as Reckitt Benckiser's CEO
The maker of Dettol and Lysol cleaning products said Narasimhan decided to leave for personal reasons to relocate back to the United States and has been approached for a new opportunity.
Reckitt kicks off $10 billion infant nutrition biz sale
The London-listed company, which sells brands including Enfamil formula, sent out marketing materials to potential buyers this month, the people said. Reckitt could seek as much as $10 billion for the unit, according to the people, who asked not to be identified because the information is private.
Reckitt to sell China baby-formula business for $2.2 billion
Reckitt will retain an 8% stake in the unit and sees net cash proceeds of about $1.3 billion, which it plans to use to reduce debt, the company said in a statement. The sale marks the end of Reckitt’s venture into the baby-formula business started just four years ago.
Maker of Dettol, Lizol & Harpic sees immense growth in India with or without Covid
RB’s record sales growth in India was due to galloping demand for hygiene products, led by Dettol, Lizol and Harpic disinfectants with global sales up 11.8% as the company capitalised on pandemic-induced demand.
Indian market has 'massive' potential: RB CEO Laxman Narasimhan
"I am deeply optimistic that a lot of the future innovation will come from India. I have my eyes out for that," Narasimhan said in his virtual address, adding that "the potential of India is massive".
Pandemic hygiene: A 200-year-old company got millions to take part in its hand-washing song and dance challenge
For consumer goods giant Reckitt Benckiser, a global crisis made it look at consumerism with a new perspective.
Potential for growth in ecommerce, pharmacy: Reckitt Benckiser global CEO
RB global chief executive Laxman Narasimhan said, “We have created a clear roadmap of growth for each space that leads up to a company that grows in midsingle digits… for example, in urbanising and developing India.”
Sales delivery inconsistent in markets like India, US: Reckitt CEO
"As I have gone selling with the frontline in India, as I've gone selling with the frontline in US, what you realise is some of these things that were traditional strengths of RB are being inconsistently delivered at the point of sale,”: Narasimhan
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