Laxman Narasimhan
Laxman Narasimhan is a business executive who currently serves as the CEO of Reckitt, a leading global consumer goods company. In this article, we will explore his early life, education, professional career, personal life, and achievements.
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Laxman Narasimhan Early Life
Born on the 15th of May 1967, Laxman Narasimhan spent his formative years in Pune, India. His interest in technology and engineering led him to pursue a degree in Mechanical Engineering from the College of Engineering, Pune. However, his academic journey did not end there. He went on to acquire an MA in German and International Studies from The Lauder Institute at the University of Pennsylvania, and an MBA in Finance from the prestigious Wharton School at the same university.
Personal Life
Narasimhan is multilingual and has an impressive command over six languages. Married with two children, he currently resides in Greenwich, Connecticut, a town known for its serene suburban atmosphere. Despite his demanding career, Narasimhan maintains a balanced life dedicated to his family.
Time Line
Laxman Narasimhan Professional Life
Narasimhan’s career is a testament to his robust leadership skills and strategic vision. He was associated with McKinsey for 19 years, where he ascended the ranks to become director and location manager for their New Delhi office. He moved on to PepsiCo in 2012, where he earned the title of Chief Commercial Officer.
In September 2019, Narasimhan took the helm at Reckitt Benckiser, succeeding Rakesh Kapoor as CEO. He implemented a turnaround plan to revitalize the company, which had previously struggled with a series of missteps and sluggish growth. However, in September 2022, he tendered his resignation due to personal and family reasons.
Narasimhan’s journey led him to Starbucks in October 2022, where he initially served as interim CEO. In April 2023, he officially succeeded Howard Schultz as the company’s CEO, demonstrating his continued dedication to leadership in the corporate sector.
Awards and Recognitions
As of this writing, specific awards and recognitions earned by Narasimhan have not been disclosed. However, his successful leadership roles across global brands like PepsiCo, Reckitt Benckiser, and now Starbucks, speak volumes about his professional prowess and ability to drive growth.
Age
As of 2023, Laxman Narasimhan is 56 years old.
Salary
While Narasimhan’s exact salary has not been disclosed, his positions as CEO at major global companies suggest that his earnings are substantial and commensurate with these high-ranking roles.
Parents’ Name and Family
Details regarding the names of Narasimhan’s parents and his family background have not been made publicly available. However, it is known that he is married and is the father of two children.
Net Worth
Narasimhan’s net worth has not been publicly disclosed. Given his prominent roles in some of the world’s leading corporations, it can be inferred that his financial standing is substantial. It should be noted that this is an estimate and the exact figure could vary.
Latest News About Laxman Narasimhan
Starbucks Faces Strikes as Union Claims Exclusion of Pride Month Decor
Organized strikes have erupted at select Starbucks stores in the United States after a clash between the coffee giant and the union representing baristas. The dispute centers around allegations that Starbucks prohibited Pride month decorations in its cafes, prompting the union, Starbucks Workers United, to rally more than 150 stores and nearly 3,500 workers to join the strikes. The company denies revising its guidelines for store decorations and asserts its unwavering support for the LGBTQIA2+ community. As tensions escalate, Starbucks must navigate the delicate balance between maintaining its reputation as an LGBTQ+ ally and addressing the concerns raised by its workforce.
Starbucks’ Sustainability Innovation Lab in Costa Rica: Advancing Environmental Change
Introduction:
Starbucks, the renowned coffee chain based in Seattle, is taking significant strides towards a more sustainable future. In pursuit of this goal, the company is establishing a state-of-the-art sustainability learning and innovation lab at Hacienda Alsacia in Costa Rica. This strategic initiative not only reinforces Starbucks’ commitment to environmental stewardship but also aims to foster hands-on learning, collaboration, and research for employees, students, researchers, and industry leaders. By leveraging this new hub, Starbucks intends to develop sustainable farming strategies and tackle pressing issues such as climate adaptation and agricultural economics. Let’s delve deeper into the exciting prospects that the sustainability lab brings.
The Sustainability Learning and Innovation Lab:
Located at Hacienda Alsacia, Starbucks’ global headquarters for research and development, the sustainability lab serves as a dynamic center for transformative ideas, practical learning experiences, and cutting-edge research. Expected to open within the next three years, this facility will play a pivotal role in driving sustainable practices in the coffee industry.
Nurturing Knowledge and Collaboration:
The lab acts as a nexus for knowledge exchange and collaboration among various stakeholders. It will provide both hands-on and virtual learning opportunities, enabling Starbucks employees, students, researchers, and industry leaders to enhance their understanding of sustainability practices and their application. This inclusive approach ensures a multi-faceted perspective and fosters innovative solutions.
Educational Programming with Arizona State University:
Starting from this fall, Starbucks’ sustainability lab will offer educational programming in partnership with Arizona State University (ASU). This collaboration presents ASU students with invaluable opportunities to engage in immersive study abroad experiences. By combining academic insights with real-world practices, the program cultivates the next generation of sustainability leaders.
Fulfilling Environmental Promises:
Starbucks’ dedication to environmental responsibility is at the core of this sustainability initiative. By establishing the lab, Starbucks CEO Laxman Narasimhan reaffirms the company’s commitment to giving more than they take, preserving the future of coffee, and achieving meaningful environmental change. Recognizing the importance of collaboration, Starbucks aims to leverage partnerships with thought leaders to scale solutions and serve as a global hub for innovation.
Expanding Capabilities at Hacienda Alsacia:
Hacienda Alsacia, Starbucks’ first and only company-owned and operated coffee farm, has been at the forefront of sustainability efforts for over a decade. Through ongoing research and development, the farm has pioneered new coffee varieties, tested disease-resistant coffee trees, and implemented innovative agricultural practices. With the establishment of the sustainability lab, Starbucks expands its capacity to drive environmental change and catalyze sustainable coffee production.
Broadening Sustainability Initiatives:
Starbucks’ commitment to sustainability extends beyond the establishment of the sustainability lab. The company is actively working on expanding its Greener Store program, which aims to reduce the environmental footprint of its stores. By setting ambitious goals to cut its carbon, water, and waste footprints in half by 2030, Starbucks showcases its determination to lead the way in environmental stewardship.
Starbucks Faces Criticism for Low Wages as Union Movement Gains Momentum – June 20, 2023
Starbucks, the renowned coffee chain, is under fire for its low wages and employee discontent. A recent study by The Wall Street Journal revealed that Starbucks pays its store workers in the US a minimum wage of $15, making it one of the lowest-paying companies in the group. The issue extends beyond Starbucks, with approximately 100 companies in the S&P 500 reporting median pay below $50,000, primarily affecting hourly or part-time workers in sectors like retail and restaurants.
The low wages at Starbucks have fueled employee dissatisfaction, leading to unionization efforts. Workers have not only protested the inadequate pay but also highlighted the absence of health insurance and tuition reimbursement for part-time employees. However, Starbucks management has shown strong resistance to the union movement, resulting in conflicts and legal disputes.
The expansion of the union movement poses potential challenges for Starbucks, as more locations are expected to unionize. Regulators and courts have already found the company guilty of violating workers’ union rights, including firing union activists and withholding pay increases and benefits from union members. This unrest within the workforce may also impact customer sentiment towards the brand.
Despite the ethical concerns, Starbucks continues to achieve financial success. In its most recent quarter, the company reported a 14% increase in revenue, reaching $8.7 billion, and a 36% rise in earnings per share. However, the company must address the low wages and employee concerns to maintain a positive public image and strike a balance between profitability and a supportive work environment.
As Starbucks navigates the future, finding a resolution to the wage issue and fostering a fair and equitable workplace will be crucial for the company’s sustainability and reputation.
