Laxman Narasimhan has been appointed as the new Chief Executive Officer (CEO) of coffee giant Starbucks.
Laxman Narasimhan was the CEO of Reckitt, which manufactures Durex condoms, Enfamil baby formula, and Mucinex cold syrup.
He is 55 Year old and previously worked at PepsiCo as its global chief commercial officer, has replaced Howard Schultz as Starbucks CEO.
Laxman Narasimhan will be paid $1.3 million in annual base salary and will also receive a $1.6 million cash signing bonus from Starbucks Coffee
Starbucks also offering replacement equity grant with a target value of $9.25 million to make up for incentives that he's forfeiting by leaving Reckitt
in total compensation as Executive Director,Chief Executive Officer at Reckitt Benckiser Group PLC in 2021.
The estimated Net Worth of Laxman Narasimhan is said to be at least $25.3 Million dollars as of 4 October 2018.
Laxman Narasimhan owns over 5,500 units of PepsiCo Inc stock worth over $22,493,835 and over the last 8 years Laxman sold PEP stock worth over $2,809,642.