Laxman Narasimhan has joined famed coffeehouse company Starbucks as the new CEO, effective April 2023. He joined the company in October 2022 as interim CEO and has been full-time CEO since April. Before joining Starbucks, Narasimhan had worked with other notable companies such as PepsiCo, Reckitt, McKinsey and others. In all these companies he held important positions such as Chief Commercial Officer (CCO), CEO and Director. Sources say he’s getting handsome compensation for his role at Starbucks. Laxman Narasimhan’s net worth in 2023 is estimated to be around $25 million and is expected to keep growing with his new role.
Laxman Narasimhan Salary and Net Worth 2023
As CEO of Starbucks, Narasimhan’s annual payout, including variables, is around US$17.5 million. He will receive an initial base salary of $1.3 million per year and an annual cash bonus equal to 200% of his base salary. In addition, Starbucks is paying out a $1.6 million cash signing bonus and $9.3 million in stock.
| Surname | Laxman Narasimhan |
| Profession | CEO |
| Current organization | Starbucks |
| Net worth (as of 2023) | $25 million (estimated) |
| Net Worth in Rupees | Rs. 200 crores (estimate) |
| The Total Compensation | $1.3 million (base salary) + $1.6 million (signing bonus) + $9.3 million (stock) |
Laxman Narasimhan Personal Biography
Laxman Narasimhan was born on May 15, 1967 in Pune, India to a middle-class family. His mother was a teacher and his father was a businessman who shipped mechanical parts to the United States, but was not doing particularly well. He had an older brother and sister, both of whom died in infancy. Laxman holds a B.Tech degree in Mechanical Engineering from the College of Engineering, Pune. He also holds a master’s degree in German and international studies from the Lauder Institute at the University of Pennsylvania and an MBA in finance from the Wharton School at the University of Pennsylvania.
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Narasimhan is married and lives in Greenwich, Connecticut with his wife, mother and two children. His father passed away.
| Full name | Laxman Narasimhan |
| Profession | CEO |
| active years | 1993 – today |
| Old | 55 years |
| Gender | Masculine |
| birth date | May 15, 1967 |
| Place of birth | Pune, India |
| Training | College of Engineering, Pune (B.Tech) University of Pennsylvania (MA, MBA) |
| Marital status | Married |
| Children | 2 |
| nationality | Indian-American |
Laxman Narasimhan’s career highlights
Narasimhan began his career at McKinsey in 1993 and stayed with the company for 19 years. He had been promoted to director of the company until his retirement in 2012. Narasimhan then moved to PepsiCo Americas Foods and became a member of the PepsiCo Company in 2014. He has held multiple leadership positions at PepsiCo, including Global Chief Commercial Officer. He also served as CEO of the company’s operations in Latin America, Europe and Sub-Saharan Africa and as CEO of PepsiCo Latin America.
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In September 2019, Narasimhan succeeded Rakesh Kapoor as CEO of Reckitt Benckiser, but unexpectedly resigned in September 2022. At the same time, Starbucks announced that Narasimhan would become the company’s next CEO, succeeding Howard Schultz, the company’s CEO and founder.
Career Schedule
| Business | role | Location | Length of time |
| Starbucks | CEO | Seattle, Washington, USA | March 2023 – Today (1 month) |
| New CEO | October 2022 – Present (6 months) | ||
| Verizon | Member of the Board | New Jersey, United States | June 2021 – Present (1 year 10 months) |
| The Nature Conservancy Latin American Conservation Council | Member of the Board | Latin America | January 2018 – June 2019 (1 year 6 months) |
| The Brookings Institute | Member of the Board | Washington, District of Columbia | June 2016 – Present (6 years 10 months) |
| Reckitt | CEO | Slough, Berkshire, UK | July 2019 – October 2022 (3 years 4 months) |
| PepsiCo | Global Commercial Director | Purchase, New York | March 2019 – July 2019 (5 months) |
| CEO Latin America, Europe and Sub-Saharan Africa | July 2017 – May 2019 (1 year 11 months) | ||
| CEO Latin America | July 2015 – July 2017 (2 years 1 month) | ||
| CEO Latin America Foods | New York metropolitan area | September 2014 – August 2015 (1 year) | |
| PepsiCo Americas Foods | SVP CFOSVP CFO | ———— | 2012 – September 2014 (2 years 9 months) |
| McKinsey & Company | director | ———— | 1993 – 2012 (19 years old) |
frequently asked Questions
What is Laxman Narasimhan’s net worth in 2023?
Rs. 200 crores (approx.)
Who owns the Starbucks coffeehouse?
Howard Schultz
What five languages does Narasimhan speak?
German, English, Hindi, Spanish and Marathi
Great care has been taken to provide only authentic information about Mr. Laxman Narasimhan in this article. However, if you find any discrepancies, please let us know in the comments section.
Post by: Findy
category by: Net Worth
