Following an introductory period, he will assume the full role of CEO and join the company’s board from 1 April next year.
Narasimhan most recently served as CEO of consumer health and nutrition company Reckitt Benckiser Group.
He was previously PepsiCo’s global chief commercial officer and CEO of the beverage brand’s Latin America, Europe and Sub-Saharan Africa operations.
Narasimhan said: “I am humbled to be joining this iconic company at such a pivotal time, as the reinvention and investments in the partner and customer experiences position us to meet the changing demands we face today and set us up for an even stronger future.
“I look forward to working closely with Howard, the Board, and the entire leadership team – and to listening and learning from Starbucks partners – as we collectively build on this work to lead the company into its next chapter of growth and impact.”
Besides working closely with Schultz, Narasimhan will work with the management team and partners during the transition period to learn about Starbucks’ company culture and its Reinvention plan.
Schultz will serve as Starbucks’ interim CEO until 1 April next year and will advise Narasimhan through the next calendar year, while continuing his association with the company as a member of its board of directors.
He will also remain closely involved with the brand’s Reinvention plan.
Schultz said: “(Narasimhan) is uniquely positioned to shape this work and lead the company forward with his partner-centered approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets.
“The perspectives he brings will be a strong asset as we build on our heritage in this new era of greater well-being.”