Starbucks appoints Laxman Narasimhan as next CEO; Schultz interim through April 2023

STARBUCKS CORP

Narasimhan joins as CEO-elect Oct 1, 2022; becomes CEO and board member by April 1, 2023.
Howard Schultz remains interim CEO until April 2023, then advisor through 2023, staying on board.
Compensation: $1.3M base, 200% annual cash target, $13.6M equity target, $1.6M signing bonus, $9.25M replacement equity.
Narasimhan previously CEO of Reckitt; prior roles at PepsiCo and McKinsey.

item 5.02 item 7.01 item 9.01

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Appointed

Laxman Narasimhan

chief executive officer-elect

SBUX · STARBUCKS CORP

Effective: 2022-10-01
Filed: September 1, 2022, 7:59 PM ET

On August 31, 2022, the Board of Directors (the “Board”) of Starbucks Corporation (the “Company” or “Starbucks”) approved the appointment of Laxman Narasimhan as chief executive officer-elect of the Company, reporting to our interim chief executive officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Laxman Narasimhan was appointed as chief executive officer-elect at STARBUCKS CORP.

Action: appointed
Role: chief executive officer-elect

Exact text from the filing

On August 31, 2022, the Board of Directors (the “Board”) of Starbucks Corporation (the “Company” or “Starbucks”) approved the appointment of Laxman Narasimhan as chief executive officer-elect of the Company, reporting to our interim chief executive officer.

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Source: SEC EDGAR

accession 0001193125-22-236650

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