Starbucks named as its new CEO consumer products executive Laxman Narasimhan, months after former head Howard Schultz temporarily took over to steer the coffee giant through rising costs, a unionization push and challenges overseas.

Mr. Narasimhan, 55 years old, has served as chief executive of the maker of Lysol and Enfamil baby formula, U.K.-based Reckitt Benckiser Group PLC, for the past three years. On Thursday he announced he would step down from Reckitt on Sept. 30, and The Wall Street Journal reported that he was in final negotiations to take a senior role at a U.S. company.

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