Laxman Narasimhan will be the next chief executive officer of Starbucks Corp. He initially will serve as incoming CEO effective Oct. 1 and work with Starbucks’ interim CEO Howard Schultz. He is scheduled to take over as CEO on April 1, 2023.

Narasimhan will step down from his role as CEO of the Reckitt Benckiser Group PLC, London, on Sept. 30. Prior to leading Reckitt Benckiser, he held leadership roles with PepsiCo, Inc., and McKinsey & Co.

“When I learned about Laxman’s desire to relocate, it became apparent that he is the right leader to take Starbucks into its next chapter,” Schultz says. “He is uniquely positioned to shape this work and lead the company forward with his partner-centered approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets.”

Mellody Hobson, independent Starbucks board of directors chair, adds, “Laxman is an inspiring leader. His deep, hands-on experience driving strategic transformations at global consumer-facing businesses makes him the ideal choice to accelerate Starbucks growth and capture the opportunities ahead of us. His understanding of our culture and values, coupled with his expertise as a brand builder, innovation champion, and operational leader will be true differentiators as we position Starbucks for the next 50 years, generating value for all our stakeholders.”