Who has recently taken over as the CEO of the coffeehouse company Starbucks on March 20th, 2023?

Daily Current Affairs

Rakesh Kapoor

Ajay Sinha

Laxman Narasimhan

Neal Mohan

Correct Answer : Laxman Narasimhan

Laxman Narasimhan has officially assumed the role of chief executive officer (CEO) of the coffeehouse chain Starbucks 20th March 2023, the Seattle-based company announced on Monday (20th March 2023) on its website. Narasimhan will join the company’s board of directors.

* Narasimhan was named incoming chief executive officer on 1 September 2022, succeeding company founder and now former chief executive officer, Howard Schultz.

* Narasimhan was earlier supposed to assumed charge as the head of the world’s largest coffee chain on April 1 but the Seattle-based giant has advanced his appointment by about two weeks.

* Narasimhan joined the company as incoming chief executive officer on 1 October 2022, bringing nearly 30 years of experience managing global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.

* Over the past five months, he has embarked on a unique immersion experience, traveling to work with partners (employees) in over 30 stores, manufacturing plants and in support centers around the world, earning his barista certification along the way. He became immersed in the reinvention plans for the company led by Schultz who returned as interim CEO effective April 4, 2022.

* As he ascends into the role, Narasimhan will continue engaging the leadership team, sharing his early learnings and insights and assessing opportunities for the company as they chart a path forward.

* Prior to joining Starbucks, Narasimhan served in leadership roles at PepsiCo, Reckitt (consumer health, hygiene and nutrition company) and McKinsey & Company.

* “Laxman’s intensive immersion into the business coupled with his extensive experience as a proven brand builder, innovator and operator have uniquely prepared him to lead Starbucks into its next phase of growth,” said Mellody Hobson, independent Starbucks board of directors chair.

* Founded in 1971, Starbucks is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. Today, the company operates more than 36,000 stores worldwide...

Source : IndiaRetailing

Published On : March 22, 2023

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In 2015, India ranked ninth in solar energy deployment, but by 2023, it produced 5.8% of its electricity from solar, up from 0.5% in 2015. This significant increase underscores India’s commitment to clean energy and its pivotal role in mitigating climate change.

Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

Published On : May 9, 2024

Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

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Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

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Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024