Starbucks’ new CEO Laxman Narasimhan says he plans to work a half-day shift once a month in one of the company’s stores in an effort to stay close to the company’s culture and customers.
FILE - Incoming CEO Laxman Narasimhan speaks during Starbucks Investor Day 2022, Sept. 13, 2022, in Seattle. Starbucks officially has a new CEO. The Seattle coffee giant said Monday, March 20, 2023 that Laxman Narasimhan has assumed the role of CEO and joined the companys board of directors.
Having a CEO work in stores is new for Seattle-based Starbucks, but not unprecedented among big companies. DoorDash CEO Tony Xu and his executive team make DoorDash deliveries once a month, for example. Narasimhan said his first priority is addressing some of the company's limitations. A reinvention planis updating equipment and layouts to make stores more efficient and increasing employee retention with better pay and benefits, he said. The average U.S. Starbucks worker now makes $17.50 per hour.
to serve as interim CEO while the company searched for a new chief executive. Schultz will remain on the company’s board.
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