Laxman Narasimhan led Starbucks for a little over a year before the coffee giant replaced him.
SEATTLE — Starbucks will pay out millions of dollars to former CEO Laxman Narasimhan, who was replaced earlier this week.
Under the coffee giant’s severance plan outlined in the 2024 shareholders statement, CEOs are paid twice their base salary and target annual cash bonus, in addition to a pro-rata portion of their bonus for the year based on actual performance, COBRA insurance coverage and outplacement services.
Narasimhan’s base salary was $1.3 million with an annual cash incentive opportunity of between 200% and 400% of his base salary, according
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