Starbucks Gets A New CEO

Here is some more good news for a Friday. Starbucks has appointed a new chief executive to succeed the interim CEO Howard Schultz. Laxman Narasimhan will assume the new role in October, and Schultz will fully hand over the reins by April next year.

Narasimhan comes from Reckitt Benckiser, which makes household products such as Air Wick, Feet, Finish, Clearasil, and Durex among other consumer goods. He served as CEO there for three years.

His other stints include 19 years at McKinsey & Co. and a time at PepsiCo as chief commercial officer. At one point he struck a deal between PepsiCo and Starbucks to partner and sell the coffee brand's pre-packaged beverages. We're looking forward to seeing how he's going to handle unions and high staff turnover at Starbucks.