Laxman Narasimhan Net Worth 2023- Know details about the newly appointed CEO of Starbucks, salary, net worth, and more

Laxman Narasimhan has joined the renowned coffeehouse company Starbucks as its new Chief Executive Officer, effective from March 2023. He joined the company as the incoming CEO in October of the last year and has been in a full-time CEO role since March. Before joining Starbucks, Narasimhan had worked with other notable companies like PepsiCo, Reckitt, McKinsey, and others. At all these companies, he has held important positions such as Chief Commercial Officer (CCO), CEO, and Director. Earlier, Laxman was set to become CEO in April 2023 but he filled the position nearly two weeks earlier than that. According to sources, he is getting paid handsome compensation for his role with Starbucks. Laxman Narasimhan’s net worth in 2023 is estimated to be around $25 million and is expected to grow even more with his new role.

Laxman Narasimhan Salary & Net Worth 2023

As the CEO of Starbucks, Narasimhan’s annual payout is going to be around $17.5 million including variables. He will receive an initial base salary of $1.3 million per year, and an annual cash incentive equal to 200 percent of his base salary. Other than this, Starbucks will pay a $1.6 million cash signing bonus along with $9.3 million in shares.

Name	Laxman Narasimhan
Profession	CEO
Present organization	Starbucks
Net worth (as of 2023)	$25 million (est.)
Net worth in rupees	Rs. 200 crores (est.)
Total compensation	$1.3 million (base salary) + $1.6 mn (signing bonus) + $9.3 mn (shares)

Laxman Narasimhan Personal Biography

Laxman Narasimhan was born on 15 May 1967 in Pune, India to a middle-class family. His mother was a teacher and his father was a businessman who supplied mechanical parts to the US but wasn’t doing very well. He had an elder brother and sister, both of whom died at an early age. Laxman holds a B.Tech degree in mechanical engineering from the College of Engineering, Pune. He has also done MA 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.

Check other Richest CEO’s in the World

Narasimhan is married and lives in Greenwich, Connecticut with his wife, mother, and two children. His father has passed away.

Full name	Laxman Narasimhan
Profession	CEO
Years active	1993 – present
Age	55 years
Gender	Male
Date of birth	15 May 1967
Place of birth	Pune, India
Education	College of Engineering, Pune (B.Tech) University of Pennsylvania (MA, MBA)
Marital status	Married
Children	2
Nationality	Indian-American

Laxman Narasimhan Career Highlights

Narasimhan started his career in 1993 with McKinsey and stayed with the company for 19 years. At the time of his resignation in 2012, he had been promoted to the Director of the company. Narasimhan then joined PepsiCo Americas Foods and in 2014 he became a part of the PepsiCo company. With PepsiCo, he held multiple leadership roles including the global Chief Commercial Officer. He also served as CEO of the company’s Latin America, Europe, and Sub-Saharan Africa operations, and CEO of PepsiCo Latin America.

Check the Net Worth of Rajesh Gopinathan

In September 2019 Narasimhan succeeded Rakesh Kapoor as CEO of Reckitt Benckiser but resigned unexpectedly in September 2022. At the same time, Starbucks announced that Narasimhan will become the company’s next CEO, succeeding Howard Schultz, the CEO, and founder of the company.

Career Timeline

Company	Role	Location	Duration
Starbucks	CEO	Seattle, Washington, United States	Mar 2023 – Present (1 month)
Incoming CEO	Oct 2022 – Present (6 months)
Verizon	Member Board Of Directors	New Jersey, United States	Jun 2021 – Present (1 yr 10 months)
The Nature Conservancy Latin America Conservation Council	Member Board Of Directors	Latin America	Jan 2018 – Jun 2019 (1 yr 6 months)
The Brookings Institution	Member of the Board of Trustees	Washington, District Of Columbia	Jun 2016 – Present (6 yrs 10 months)
Reckitt	CEO	Slough, Berkshire, United Kingdom	Jul 2019 – Oct 2022 (3 yrs 4 months)
PepsiCo	Global Chief Commercial Officer	Purchase, New York	Mar 2019 – Jul 2019 (5 months)
CEO Latin America, Europe, and Sub-Saharan Africa	Jul 2017 – May 2019 (1 yr 11 months)
CEO Latin America	Jul 2015 – Jul 2017 (2 yrs 1 month)
CEO Latin America Foods	Greater New York City Area	Sep 2014 – Aug 2015 (1 yr)
PepsiCo Americas Foods	SVP CFOSVP CFO	————	2012 – Sep 2014 (2 yrs 9 months)
McKinsey & Company	Director	————	1993 – 2012 (19 yrs)

Frequently Asked Questions

Total care has been taken in order to provide only genuine details about Mr. Laxman Narasimhan in this article. However, if you find any discrepancies, please let us know in the comment section.