China Food

The new CEO of Starbucks has been finalized! When the leader of Lijie parachuted, the “old acquaintance” of the Chinese market came



“ 
new Shuai will have unique advantages in “reshaping Starbucks”.
 ”
by surprise. Once again, Howard, the founder of Starbucks, showed his magician like ability to change.
After six months of searching, Starbucks finally decided on a new CEO, who was the head of Lijie when he suddenly announced his resignation yesterday. Today, the world’s largest coffee chain announced the appointment of Laxman Narasimhan as the CEO designate, reporting to the interim CEO. The appointment took effect on October 1, 2022, and Narasimhan is expected to officially take up the post of CEO of Starbucks from April 1, 2023. At the same time, Starbucks also made public the bill for inviting a new CEO with “heavy money”.
Laxman Narasimhan (picture)
New Commander
According to Starbucks’ report today, the company’s board of directors approved the appointment on August 31. “Laxman Narasimhan will become the next CEO of the company and a member of Starbucks’ board of directors.” According to the company, Narasimhan will work closely with interim CEO Howard after moving back to Seattle from London, UK. Howard will serve as interim CEO until April 1, 2023, and serve as Narasimhan adviser during 2023, while continuing to stay on the Starbucks board of directors. During the transition period, Narasimhan will fully participate in Starbucks, get along with Howard, the management team, employees and customers, and get in-depth contact with the brand, company culture and remodeling plan.
In fact, Narasimhan had worked in the food and beverage industry for many years before joining Starbucks.
According to Starbucks data, Narasimhan, 55, has been the CEO of L & G since September 2019. Narasimhan held many positions at PepsiCo from 2012 to 2019 before joining Lijie, including chief commercial officer, chief financial officer of PepsiCo Americas food and so on. Before PepsiCo, Narasimhan worked at McKinsey & Company for 19 years, mainly responsible for consumer, retail and technology businesses in the United States, Asia and India. “When I learned that Laxman wanted to move (back to the United States), he was obviously a leader fit to lead Starbucks to the next chapter.” Howard said that Narasimhan has a good performance in partner centered methodology, building capacity in mature and emerging markets and promoting growth, so it has unique advantages in reshaping and leading Starbucks forward.
“With the opportunity to get to know him, he obviously shares our passion, that is, to identify with investment humanistic care and commitment to our partners, customers and communities.” Howard said that Narasimhan’s views are a rich asset, and he very much looks forward to their future cooperation.
Howard, founder of Starbucks (picture)
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Howard Schultz suddenly announced in March this year that he would return to Starbucks as interim CEO until the new leader joined. Kevin Johnson, the former president and CEO of Starbucks, retired in April after 13 years in office. Howard had previously handed over the post of CEO twice, but since then, he has closely followed the company’s business and kept in close contact with the company’s senior executives. According to the Wall Street Journal, Howard said that he asked to attend a Starbucks board meeting about two years ago because he was “increasingly worried” about what he saw in Starbucks stores and what he learned through informal conversations with senior executives of the company. Howard previously said in a high-profile manner that as an interim CEO, he would focus on formulating an innovation framework, and at the same time lead the entry of the next permanent CEO of Starbucks and give guidance. According to the data, in the past six months, many global Starbucks executives retired or left their posts, which shows Howard’s determination to revolutionize Starbucks.
Howard (information picture)
Due to Howard’s strong presence in Starbucks, the outside world is also very concerned about how the new coach works with him under the framework he has formulated. Last month, Howard told Wall Street analysts at the performance meeting that the most difficult problem in selecting a new CEO is to understand the company’s culture, values and guiding principles in addition to experience, understanding of the market and the world. At that time, he described that the list of candidates for CEO had been narrowed down to only a few people, and they were all very interested in the new job. Today’s “airborne” appointment shows that Starbucks may be more eager to “reform” itself than outsiders think, because earlier, local media in the United States once reported that the new CEO candidate might be selected from the members of the original Starbucks board of directors. Today, Howard obviously feels that he can be the “ballast” of the company. He disclosed at the above performance meeting that he would “stay” if necessary to ensure the soft landing of the new CEO in the company. “We will have a long immersion process, and then I will transition to the board of directors, so that I can guide and help the next CEO.” He said that the plan to reshape Starbucks to be announced soon has been synchronized with the candidates. There is no misunderstanding. The candidates are very excited and positive, and it is consistent with what we are doing, that is, to invest before the growth curve. Details of reshaping Starbucks will be officially announced at the beginning of this month.

Chinese market
As the appointment has just taken place, it is not clear how the new manager of Starbucks will develop China, the second largest market of Starbucks in the world. But it is certain that under Howard’s guidance, he will pay great attention to the Chinese market. As of the third fiscal quarter, Starbucks had opened 107 new stores in the Chinese market and operated 5761 stores in 228 cities. During the period, due to the impact of the epidemic, Starbucks’ net income in China increased by 40% to $544.5 million. Affected by the 43% decrease in the same store transaction volume and the 1% decrease in the average unit price per customer during the period, the same store sales decreased by 44%. Nevertheless, Starbucks in China
Looking up the data, Narasimhan himself has a lot of predestination with the Chinese market. It can even be said that he started his journey as CEO of lijiashi in the Chinese market. Therefore, Starbucks employees can also look forward to timely communication with the new CEO. The snack representative once introduced that Narasimhan officially took the post of CEO of lijieshi group on September 1, 2019, and his first trip was in China. At that time, he came to China in person. In addition to visiting many local stores in China, he also met with local customers and employees. In addition, he also chose to share his “governance concept” and the focus of his next work with employees around the world in China. This is also the first time that the Global CEO of L & G held a global employee conference in a market outside the UK.
Meet challenges
Today, foreign news agencies are also very concerned about Starbucks appointing Narasimhan to head the world’s largest coffee chain. After the appointment was announced, the coffee chain’s share price rose by less than 1% in after hours trading, indicating that investors may still need time to observe. CNBC pointed out that as CEO, Narasimhan will have to deal with many challenges. In its home market, Starbucks is facing unionization activities. More than 200 stores in the United States voted in favor of unionization. This “battle” has led to negative headlines and legal disputes. In addition, in the US market, inflation has not affected Starbucks’ sales, but it has pushed up menu prices. In the Chinese market, Starbucks is trying to recover from the impact of the epidemic.

The Wall Street Journal pointed out today that Narasimhan will take over the world’s largest coffee chain. It is moving forward in the changing business environment: the epidemic has hit Starbucks hard, forcing it to temporarily close its stores; By 2021, take out orders have helped Starbucks restore sales to pre pandemic levels, but this year’s cost rise has eroded Starbucks’ profit margin, and the company has had to raise prices. In addition, Starbucks is still trying to cope with the unionization activities in the United States that began in its stores in New York a year ago. Since the pandemic, the turnover rate of American employees has increased significantly, and the company increased local wages in August. Analysts also commented on Howard’s role and Narasimhan’s management style. Bloomberg quoted analysts as saying that from the wording of today’s briefing, Howard will be deeply involved. “My guess is that on the major issues of operational decision-making and menu items, I don’t know whether they are right or not. It still feels like Howard’s home court, which will last for at least a period of time.” Another analyst pointed out to Bloomberg that Howard should be clear that the new CEO wants autonomy and wants different things. “Starbucks is Howard’s own son, and he hopes to ensure that he finds a person who is capable and tough.”
Howard (information picture)
Reuters quoted Gabelli’s portfolio manager as saying that Narasimhan had adopted a very balanced strategy during his tenure
The new CEO of Starbucks has been finalized! When the leader of Lijie parachuted, the “old acquaintance” of the Chinese market came
 Laxman Narasimhan(资料图片)
在考虑了奶粉市场的重大变化后,在对大中华区婴儿配方奶粉业务战略评估仅4个月,利洁时就宣布以22亿美元的企业价值将其在中国业务出售给春华资本,而利洁时仍保留有关业务8%的股权。

翻查资料,Narasimhan本人和中国市场有着不小的缘分,甚至可以说他是在中国市场开启了自己的利洁时CEO之旅的,因此在和新CEO及时交流方面,星巴克员工也可以有所期待。

小食代曾介绍,Narasimhan在2019年9月1日正式出任利洁时集团CEO一职,上岗后的第一段行程就在中国。当时,他亲自来到中国,除了不停蹄地走访多家中国本地门店之外,还与当地客户和员工会面。

此外,他还选择在中国与全球员工分享自己的上任后的“施政理念”和下一步工作重心等。这也是利洁时全球CEO第一次在英国以外的市场举行全球员工大会。
应对挑战
对于星巴克任命Narasimhan掌舵这家全球最大的咖啡连锁,今天外电也非常关注。在任命宣布后,这家咖啡连锁店的股价在盘后交易涨幅不到1%,这显示投资者或仍然需要时间观察。

CNBC指出,
作为首席执行官,Narasimhan将不得不应对许多挑战。在其本土市场,星巴克正面临工会化活动,美国有200多家门店投票支持工会化,这场“战斗“导致了负面的头条新闻和法律纠纷。此外在美国市场,通货膨胀尚未影响星巴克的销售,但它推高了菜单价格。而在中国市场,受到疫情的影响,星巴克正努力从中恢复过来。
华尔街日报今天指出,Narasimhan将接管世界上最大的咖啡连锁店,它正在不断变化的商业环境中前行:疫情重创星巴克,迫使其暂时关闭门店;到2021 年,外带订单帮助星巴克销售额恢复到疫情前的水平,但今年的成本上升侵蚀了星巴克的利润率,该公司不得不提高了价格。此外,星巴克还在努力应对一年前在纽约门店开始的美国工会化活动。自疫情以来,美国员工的流动率大幅上升,该公司在8月份增加了当地的工资。

对于霍华德的角色以及Narasimhan的管理风格,分析师也纷纷发表评论。

彭博引述分析师指出,从今天通报的措辞看起来,霍华德还将深度参与其中。“我猜测,在运营决策的重大问题上、菜单项目上,不知道对不对,感觉依然是霍华德的主场,至少维持一段时间。”

另一位分析师则对彭博指出,
霍华德应该清楚新CEO想要有自主权和在做事情上希望不一样。“星巴克是霍华德的亲儿子,他希望能确保找到一个既有能力又坚韧的人。”
霍华德(资料图片)
路透社则引述利洁时股东Gabelli的投资组合经理指出,Narasimhan在任内采取了一种非常平衡的战略方法,他并没有在各方面同时“火力全开”,而是用一种非常系统的方法来把事情做好。

路透社引述分析师表示,虽然对星巴克仍然从必需品行选择继任者感到惊讶,
但乐观地认为,Narasimhan作为一家上市跨国公司CEO的全球视野,以及在百事公司的饮料背景都将为星巴克打开新的篇章。
原标题:今天,星巴克新CEO敲定!利洁时掌门人空降,中国市场的“老熟人”来了
源:小食代(ID:foodinc),转载已获得授权。
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