Starbucks Coffee Japan Appoints Matsuo Iwata, Chief Executive Officer Designate

Following the global search for the new leader of Starbucks, Laxman Narasimhan joined the company as incoming ceo on October 1, 2022, bringing nearly 30 years of experience leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.

Howard Schultz will continue as interim ceo until April 1, 2023 and serve as an advisor to Narasimhan through calendar 2023 while remaining on Starbucks Board of Directors.

The company will suspend the stock buyback program to Invest in Starbucks partners (employees) and stores for long-term growth, Starbucks announced in a press release Monday.