"laxman-narasimhan"

Narasimhan has stepped down as CEO and from the Starbucks board "with immediate effect," the company announced on Tuesday. The leadership change comes as Starbucks seeks to revitalize its business amid recent broad-based sales declines.

Narasimhan, 55 was previously the CEO of UK-based Reckitt Benckiser, a multinational consumer health, hygiene and nutrition company.