Starbucks names new CEO

Starbucks has named Laxman Narashim, most recently CEO of Reckitt, as its next chief executive officer. Mr. Narashim, whose previous experience includes roles at PepsiCo and McKinsey, will start Oct. 1 as incoming CEO and fully take over in April. He will work with Howard Schultz, Starbucks interim CEO, in the meantime.