Indian-origin Laxman Narasimhan assumes role of Starbucks Chief Executive Officer
New York, Mar 20: Indian-origin executive Laxman Narasimhan on Monday officially assumed the role of Chief Executive Officer of global coffee giant Starbucks, joining the growing cohort of business leaders originally hailing from India at the helm of global corporations.
In September last year, Starbucks had announced that Narasimhan would become the company's next chief executive officer and a member of the Starbucks Board of Directors.
Following the global search for the new leader of Starbucks to succeed company founder and now former CEO, Howard Schultz, Narasimhan joined Starbucks as incoming CEO on October 1, 2022 after relocating from London to the Seattle area.
"Effective today, Laxman Narasimhan has assumed the role of chief executive officer and will join the company's board of directors," Starbucks said in a statement.
Narasimhan will lead Starbucks Annual Shareholder Meeting on March 23.
"As he ascends into the role, Narasimhan will continue engaging the leadership team, sharing his early learnings and insights and assessing opportunities for the company as they chart a path forward," the company said.
Narasimhan, the former CEO of UK-based consumer health, hygiene and nutrition multinational Reckitt Benckiser, brings to Starbucks nearly 30 years of experience leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.
The company said that over the past five months, he has embarked on a unique immersion experience, traveling to work with employees in over 30 stores, manufacturing plants and in support centers around the world, "earning his barista certification" along the way.
"I am humbled to officially step into my role as Starbucks chief executive officer, leading our incredible team of more than 450,000 green apron partners around the world," the company statement quoted Narasimhan as saying.
He said the foundation laid by Schultz "building from scratch an iconic global brand fuelled by a lasting passion to uplift humanity" is truly remarkable, "and I am honoured to have the opportunity to build on this deep heritage.
"As a human connection business, we have limitless possibilities to deliver for our partners, our customers, our investors and our communities through every cup and every connection. I am excited to work alongside our partners worldwide to unlock the limitless future of Starbucks."
With his appointment, Narasimhan joined the growing list of Indian-origin CEOs at the helm of global giants, including Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, Alphabet CEO Sundar Pichai and IBM Chairman and Chief Executive Officer Arvind Krishna. Indra Nooyi had served as PepsiCo's CEO for 12 years before stepping down in 2018.
Former Mastercard CEO Ajay Banga was last month nominated by US President Joe Biden to lead the World Bank.
Narasimhan holds a degree in Mechanical Engineering from the College of Engineering, University of Pune, India.
He also has a Master of Arts in German and International Studies from The Lauder Institute at The University of Pennsylvania and a Master of Business Administration in Finance from The Wharton School of The University of Pennsylvania.
Starbucks said that it has unveiled a company-wide reinvention strategy and continues to deliver on more than USD 1 billion in investments in retail partners and stores for prioritized areas such as increased pay and sick time accrual, new financial well-being benefits, modernized training and collaboration, store innovation and equipment and the celebration of coffee.
Independent Starbucks Board of Directors chair Mellody Hobson said in the statement that Narasimhan's "intensive immersion" into the business coupled with his extensive experience as a proven brand builder, innovator and operator have uniquely prepared him to lead Starbucks into its next phase of growth.
"This immersion has deepened Laxman's understanding of Starbucks culture and values. In this time of learning and listening, he has already won the hearts and minds of our partners around the world," Hobson said.
Previously, Narasimhan has served as an executive in various leadership roles at PepsiCo, including as global chief commercial officer, where he was responsible for the company's long-term growth strategy and commercial capabilities.
Prior to PepsiCo, he spent 19 years at McKinsey & Company, where he advised companies across the retail, consumer goods, and healthcare industries in the US, Asia, and India.
He is a trustee of the Brookings Institution, a member of the Council on Foreign Relations, a member of the UK Prime Minister's Build Back Better Council and a member of Verizon's Board of Directors, according to the Starbucks website.
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US vetoes Palestinian bid to gain statehood at the United Nations
United Nations, Apr 19: The US has vetoed a resolution in the UN Security Council on the latest Palestinian bid to be granted full membership of the United Nations, an outcome lauded by Israel but criticised by Palestine as “unfair, immoral, and unjustified".
The 15-nation Council voted on a draft resolution Thursday that would have recommended to the 193-member UN General Assembly “that the State of Palestine be admitted to membership in the United Nations.”
The resolution got 12 votes in its favour, with Switzerland and the UK abstaining and the US casting its veto.
To be adopted, the draft resolution required at least nine Council members voting in its favour, with no vetoes by any of its five permanent members - China, France, Russia, the United Kingdom and the United States.
Palestinian attempts for recognition as a full member state began in 2011. Palestine is currently a non-member observer state, a status that was granted in November 2012 by the UN General Assembly.
This status allows Palestine to participate in proceedings of the world body but it cannot vote on resolutions. The only other non-member Observer State at the UN is the Holy See, representing the Vatican.
Israel’s Foreign Minister Israel Katz praised the US for vetoing what he called a “shameful proposal.”
“The proposal to recognise a Palestinian state, more than 6 months after the largest massacre of Jews since the Holocaust and after the sexual crimes and other atrocities committed by Hamas terrorists was a reward for terrorism”, Katz wrote on X, after the US veto.
US Ambassador Robert Wood, Alternative Representative for Special Political Affairs, said in the explanation of the vote at the Security Council meeting on Palestinian membership that Washington continues to strongly support a two-state solution.
“It remains the US view that the most expeditious path toward statehood for the Palestinian people is through direct negotiations between Israel and the Palestinian Authority with the support of the United States and other partners,” he said.
“This vote does not reflect opposition to Palestinian statehood, but instead is an acknowledgement that it will only come from direct negotiations between the parties.”
Wood said there are “unresolved questions” as to whether Palestine meets the criteria to be considered a State.
“We have long called on the Palestinian Authority to undertake necessary reforms to help establish the attributes of readiness for statehood and note that Hamas - a terrorist organisation - is currently exerting power and influence in Gaza, an integral part of the state envisioned in this resolution,” he said, adding that “For these reasons, the United States voted “no” on this Security Council resolution.”
Wood noted that since the October 7 attacks last year against Israel by Hamas, US President Joe Biden has been clear that sustainable peace in the region can only be achieved through a two-state solution, with Israel’s security guaranteed.
"There is no other path that guarantees Israel’s security and future as a democratic Jewish state. There is no other path that guarantees Palestinians can live in peace and with dignity in a state of their own. And there is no other path that leads to regional integration between Israel and all its Arab neighbours, including Saudi Arabia,” he said.
The Palestinian Authority President, Mahmoud Abbas, sharply criticised the US veto, saying that it was “unfair, immoral, and unjustified, and defies the will of the international community, which strongly supports the State of Palestine obtaining full membership in the United Nations.”
Riyad Mansour, Permanent Observer of the State of Palestine, said that “our right to self-determination has never once been subject to bargaining or negotiation.
“Our right to self-determination is a natural right, a historic right, a legal right. A right to live in our homeland Palestine as an independent state that is free and that is sovereign. Our right to self-determination is inalienable...,” he said.
Getting emotional and choking up as he made the remarks, Mansour said that a majority of the Council members “have risen to the level of this historic moment” and have stood “on the side of justice, freedom and hope.”
He asserted that Palestine’s admission as a full member of the UN is an “investment in peace.”
On April 2, 2024, Palestine again sent a letter to UN Secretary-General Antonio Guterres requesting that its application for full UN membership be considered again.
For a State to be granted full UN membership, its application must be approved both by the Security Council and the General Assembly, where a two-thirds majority of the members present and voting is required for the State to be admitted as a full member.
Earlier in the day, Guterres, in his remarks to a Council meeting on the Middle East, warned that the region is on a “knife edge”.
“Recent escalations make it even more important to support good-faith efforts to find lasting peace between Israel and a fully independent, viable and sovereign Palestinian state,” Guterres said.
“Failure to make progress towards a two-state solution will only increase volatility and risk for hundreds of millions of people across the region, who will continue to live under the constant threat of violence,” he said.
The UN, citing the Ministry of Health in Gaza, said that between October 7 last year and April 17, at least 33,899 Palestinians have been killed in Gaza and 76,664 Palestinians injured. Over 1,200 Israelis and foreign nationals, including 33 children, have been killed in Israel, the vast majority on October 7.
As of April 17, Israeli authorities estimate that 133 Israelis and foreign nationals remain captive in Gaza, including fatalities whose bodies are withheld.
