1/10/2024 0 Comments Starbucks espresso![]() Narasimhan, who holds a degree in mechanical engineering from the University of Pune, India, and an MBA from the Wharton School at the University of Pennsylvania, started at Reckitt less than a year before the world shut down as covid-19 spread. “It proved he was very willing to get stuck in and understand the business.”Ĭazzol adds that when Narasimhan joined, he prioritized the focus on customer service to its biggest retailer partners, demonstrating the type of understanding he will need when running a consumer-facing business such as Starbucks. ![]() “After he joined in late 2019 he made it very clear at the third-quarter results that he was going around all the major markets speaking to people on the ground, speaking to the customers to see where the business needed increased investment,” said Fulvio Cazzol, an analyst at Berenberg. He visited factories and warehouses to get a better understanding of the business and improved Reckitt’s relationship with its key retailer customers. Narasimhan met a committee representing survivors of the toxic air purifier scandal not long after joining and wrote a personal apology letter to the South Korean independent commission for social disaster investigation. This was a company that was not only trying to digest a disastrous takeover when he started but was also recovering from a serious cyber attack, manufacturing problems, a failed product launch, and a health scandal where hundreds of people in South Korea died from fatal lung disease caused by exposure to a humidifier disinfectant sold by the group. The executive, who favors a single espresso shot a day, is given the greatest credit for changing the culture at Reckitt. He’s quite efficient,” she said in a call with Bloomberg, adding that his biggest achievement was upgrading the company’s whole supply-chain infrastructure. “He only took about two quarters to come up with that, communicate it and roll it out. Narasimhan is a quick decision maker and didn’t take long to impose the “huge turnaround strategy” for Reckitt, said Alicia Forry, an analyst at Investec. Still, he will be working closely with longtime chief Howard Schultz, who has upended the coffee chain’s management and strategy since coming back to the helm for a third stint. Disposals included the Chinese division of infant formula maker Mead Johnson, an ill-fated top of the market $17 billion takeover by predecessor CEO Rakesh Kapoor that was more expensive than all of Reckitt’s previous deals combined.Īnalysts, investors and other people who know him do not expect Narasimhan to shy away from large strategic moves at Starbucks. As he prepares to leave, the entire executive management team at Reckitt is different to the one he started with in 2019.īy the six-month mark, Narasimhan had come up with a strategy to turn around Reckitt’s performance that has prioritized growth and investment in its health, nutrition and hygiene divisions while shedding noncore brands. He hired a top executive from his former employer PepsiCo Inc., to fill a new role of chief transformation officer. Within the first three months of officially starting, Narasimhan had replaced the chief financial officer and dispensed with the services of the Hygiene Home division president, who had worked at Reckitt for 32 years. Narasimhan, 55, was not afraid to make changes quickly.
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