Laxman Narasimhan becomes Starbucks CEO ahead of schedule

Laxman Narasimhan has officially become CEO of Starbucks nearly two weeks earlier than expected, taking over from Howard Schultz. Narasimhan, who was previously CEO of Reckitt, will lead the coffee giant's annual shareholder meeting on Thursday. Despite stepping down earlier than anticipated, Schultz is still expected to testify in front of a Senate panel on March 29 about the company's alleged union-busting activity. Shareholders will also vote on a proposal from SOC Investment Group that would require the Starbucks board to start succession planning at least three years in advance.