Laxman Narasimhan Net Worth 2023: Starbucks CEO Salary, Net Worth, and More

Laxman Narasimhan has joined the renowned coffeehouse company Starbucks as its new Chief Executive Officer, effective from April 2023. He joined the company as the interim CEO in October 2022 and has been in a full-time CEO role since April. 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. According to sources, he is getting paid handsome compensation for his role with Starbucks. Laxman Narasimhan 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 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.

NameLaxman Narasimhan
Present organizationStarbucks
Net worth (as of 2023)$25 million (est.)
Net worth in rupeesRs. 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.

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

Full nameLaxman Narasimhan
Years active1993 – present
Age55 years
Date of birth15 May 1967
Place of birthPune, India
EducationCollege of Engineering, Pune (B.Tech) University of Pennsylvania (MA, MBA)
Marital statusMarried

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.

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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

StarbucksCEOSeattle, Washington, United StatesMar 2023 – Present (1 month)
Incoming CEOOct 2022 – Present (6 months)
VerizonMember Board Of DirectorsNew Jersey, United StatesJun 2021 – Present (1 yr 10 months)
The Nature Conservancy Latin America Conservation CouncilMember Board Of DirectorsLatin AmericaJan 2018 – Jun 2019 (1 yr 6 months)
The Brookings InstitutionMember of the Board of TrusteesWashington, District Of ColumbiaJun 2016 – Present (6 yrs 10 months)
ReckittCEOSlough, Berkshire, United KingdomJul 2019 – Oct 2022 (3 yrs 4 months)
PepsiCoGlobal Chief Commercial OfficerPurchase, New YorkMar 2019 – Jul 2019 (5 months)
CEO Latin America, Europe, and Sub-Saharan AfricaJul 2017 – May 2019 (1 yr 11 months)
CEO Latin AmericaJul 2015 – Jul 2017 (2 yrs 1 month)
CEO Latin America FoodsGreater New York City AreaSep 2014 – Aug 2015 (1 yr)
PepsiCo Americas FoodsSVP CFOSVP CFO————2012 – Sep 2014 (2 yrs 9 months)
McKinsey & CompanyDirector————1993 – 2012 (19 yrs)

Frequently Asked Questions

What is the net worth of Laxman Narasimhan in 2023?

Rs. 200 crores (approx.)

Who is the owner of Starbucks Coffeehouse company?

Howard Schultz

What five languages does Narasimhan speak?

German, English, Hindi, Spanish, and Marathi

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.

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