Starbucks Offers High Pay Salary To Newly Appointed CEO
The newly appointed CEO Laxman Narsimhan is being offered an annual salary of Rs.140 crore by the coffee giant Starbucks. Narsimhan had an annual salary of Rs. 55 crore in his earlier company Reckitt Benckiser. For this new venture, Narsimhan had to shift from London to Seattle and will start working from 1st October 2022 onwards.
As per the reports of Guardian, If Narsimhan will meet his targets, he will earn more than double the amount in a year. The high pay scale of CEOs these days is common. The CEO of Infosys earns Rs.71 crore annually while the CEO of HC Technologies gets an annual salary of Rs. 123 Crore.
The newly appointed CEO is bringing 30 years of experience in leading global consumers. He has worked with Reckitt as their Chief Executive Officer and has been a part of PepsiCo from 2014 to 2019. Additionally, Narsimhan has served as director to McKinsey & Co as well.
Narsimhan has done his graduation Mechanical Engineering from College of Engineering and completed his MBA from Wharton School. He also has master’s in International Studies from University of Pennsylvania. Starbucks that was established 50 years ago now comprises 34,000 stores across the globe. Starbucks is the company that hit $37.8 trillion last year 2021 and marked its presence in many global business ranking lists.
By appointing an India based CEO, Starbucks is hoping for accelerated growth and better ranking in the upcoming financial year.
