Watch CNBC's full interview with Starbucks CEO Laxman Narasimhan
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Watch CNBC's full interview with Starbucks CEO Laxman Narasimhan
May 1, 2024
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Starbucks names Laxman Narasimhan as new CEO
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Starbucks hired a new CEO named Laxman Narasimhan, who had been a consultant at McKinsey for over 20 years. Consultants usually give companies advice they don't actually run them. When he became CEO, Starbucks was worth $114 billion. After just 17 months, the company's value dropped to $74 billion meaning he lost about $40 billion in company value. People realized he didn't really understand how to lead a company - for example, in one interview he even said he doesn't like being asked questions
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