it is chief executive laxman narasimhan didn't solve?— didn't solve?idn't solve? it is so difficult to say because there _ didn't solve? it is so difficult to say because there has - didn't solve? it is so difficult to say because there has been - didn't solve? it is so difficult to say because there has been so | didn't solve? it is so difficult to - say because there has been so many changes to the way we consume a starbucks on the way we consume our fast—food entities. people are waiting too long for their coffee, they are paying too much for it and as a result they have been leaving that in droves. since laxman narasimhan took over, sales have declined and in the past three quarters, it has collapsed. investors were tired of the turnaround story that wasn't materialising. the new diff executive has a momentous task because he has to change the perception of starbucks to something thatis perception of starbucks to something that is more applicable to the way we live our lives today. you mentioned _ we live our lives today. you mentioned price _ we l

chief executive laxman narasimhan is stepping down and will be replaced by brian niccol, the head of mexican grill chain chipotle. the shake—up comes as starbucks continues to grapple with a slump in sales, amid price increases and boycotts sparked by the israel—gaza war. niccol�*s new role begins on 9th september. google has just revealed a new lineup of of devices that are set to further incorporate artificial intelligence. at their latest event held in california, the company unveiled the pixel 9, which will be fully integrated with �*gemini'. that's google�*s ai model that competes against chatgpt. the company also showcased their latest smartwatch — the pixel watch 3. one new feature includes the ability to contact emergency services automatically, when the wearer's pulse has stopped. speaking of smartphones, india's market for the devices grew by 7% year on year in the second quarter with chinese brands dominating the market once again according to a recent report. the bbc�*s arunoday mukharji has more on the findings and also how �*make in india' efforts to localize production

laxman narasimhan was beloved at pepsico and beloved where he was the ceo. when he took over starbucks all i heard was he worked in snacks and beverages and packaged goods, he really understood the process. he was supposed to be the logical considered choice. i don't know what happened between then and now but it became clear that starbucks is a great company with loyal customers and not so hot management. the new ceo, brian niccol, might have to take a page from the former ceo of panera bread that had developed a whole new model for stores because the old locations were slow, unappealing, expensive, could not handle mobile ordering. that is the exact problem starbucks is dealing with. maybe it can work for starbuck , tested and ready to roll. maybe it'll roll out in another city. of course the old ceo, he did not want to do that. he thought he had all the answers. behind the scenes, many are blaming founder and former ceo howard schultz for lording over his successor. i think howard had more pulled by the lack of contrition then by the current's execution w

the coffee chain ousted ceo laxman narasimhan and named brian niccol to take over.airman and ceo of chipotle and before that the ceo of taco bell. his big challenge will be to get inflation-weary americans back into starbucks stores. >>> google unveiled its new line one of pixel smartphones, watches, and other gadgets, and it's packed with a.i. technology. google has designed its gemini assistant to be more conversational and will be able to handle even more tasks. there's a camera feature that uses augmented reality to take a group photo. >>> if you have a sweet tooth this may be for you. coca-cola and oreo are introducing a zero-sugar soda flavored with hints of oreo cookies and sandwich color. there's a red and black design and feature a base cake made with coca-cola syrup bringing a fizz sensation to the bite. >>> that's your "money watch" report for this wednesday morning. i'm shanelle kaul, cbs news, new york. >> pondering, i have to try it. the cookies, not the drink. >>> still to come, katy perry in hot water. why her latest video is sparking an investigatio

starbucks -- >> reporter: the ceo of starbucks, laxman narasimhan out, as the world's most iconic coffeetruggles with customers who have said no to higher prices. >> it is $8. i'm just saying, i can't do it. i'm tapping out. i can't do it. >> reporter: starbucks' new ceo is brian niccol, who turned chipotle around after a devastating e. coli outbreak in 2015. improving quality and using technology to speed up orders, doubling chipotle's revenue. >> and we thought he would be the right leader for this moment. >> thank you, have a good one. >> reporter: the new ceo's challenge, luring back starbucks' customers who have been driven away by inflation, long waits and cheaper coffee at competitors. >> i don't like the prices. i think they have gone up a lot. >> a good bit cheaper at the local coffee shops. >> reporter: the move comes as higher prices have turned many americans away. kfc, pizza hut, and mcdonald's all reporting falling sales are now offering value meals. while under niccol, chipotle grew its revenue in the last quarter.nsumers? what what are the problems starbucks has had with

laxman narasimhan out from the board and ceo role at starbucks effective immediately.l as we know extremely well respected in the restaurant industry is a visionary leader. at chipotle he joined in 2018 the company struggling with food safety issues and quality perception challenges with consumers. under its tenure it was a blip with few subsequent issues as he introduced new successful menu items. under his tenure the stock soared 770%. prior to chipotle he was taco bell's ceo helping to create viral moments with the introduction of breakfast and catering to a younger audience and that's a legacy that remains today. chipotle has been able to capture that gen-z audience with things like clothing and makeup releases, roblox, discord partnerships and more. the challenges at starbucks will be different. footprint much larger and global with 39,000 locations around the world, company owned and licensed. chipotle on track to hit about 6,000 in the next few years. the china and u.s. businesses at starbucks are under pressure from consumers who are fed up with higher prices,

he is replacing laxman narasimhan, who took over starbucks last march.adership. most recently, sales dropped 3% globally at stores open for at least a year. kfc expanding its value menu with three new $5 options. they include chicken nuggets, a famous bowl and a two piece drum and thigh meal. kfc says they will continue to offer other deals, including $10 tuesdays and a $20 family meal. and now we take a live look at the new york stock exchange. as trading gets underway this morning, you can see that we're up about 250 points. might sound crazy, but it ain't no lie, baby. >> bye bye bye. >> yes. >> what are you guessing? >> just let me have my moment, okay? 24 years after its initial release. nsync's. bye bye bye. seeing new success in billboard's top ten. and it's thanks to the new marvel movie deadpool and wolverine. so the song is in the early moments of the movie, which is already made more than $1 billion globally since it premiered late last month. and it seems that moment is resonating with the audience and bringing fans back to the hit song. i ju

>>reatur she before starbucks is fired, laxman narasimhan the reason nobody could spell his name right on the cup. o stupid stupid white balance. finally an italian sprinter who won 11 national titles as a thn will now compete as a woman in the paralympic games. an italianames. women now wondeo one bought it. >> i mean, where's the mustache ? i know, i know. rong disgusting and wrong. >> all right, let's do the news . at first, he wouldn't budge. now joe holds a grudge. hour zombie president isn't ju. a lame duck. he's a dead duck with nothing to d o and everything. everyone to hate. he's even snippy with the nice priest who keeps administering the last rites. ing the there's no love lost between him. kamala and the democrathere was that sacrificed him to their leader. the immortal devil spa, known sa nancy pelosei. or, as most people know, her,o h or azebub. the new york times asks, when will they speak again? oncew york close, biden and peli are at odds. >> it's truelose. >> since the ouster, biden has had no face time with pelosi, yi and that includes the one she wears in public and

wedbush ups chipotle of lot of snark about mckenzie ceos yesterday, speaking of laxman narasimhan. >>solutely. everybody knows someone -- you bring in mckinsey, deloitte, these are places where they have a lot of smart minds, but yes, there was a -- in the heard on the street for the interview that i did with laxman, we did, it mentioned that he came back with mckenzie speak, which, david, i guess is like, i don't know, what is mckenzie speak? >> i don't speak mckenzie speak. >> you're illiterate in mckenzie speak. >> you can lernarn it on duolin. >> i'm sure they have an entire lexicon. >> it's best practices. >> well, it's like -- it's -- >> what are your best practices? are you a culture -- what are you, a culture cleanser? no. >> i work seven days a week. i don't know what the hell that guy who dropped out of google is thinking. >> jim, you mentioned brinker. where chili's comps are up almost 15, but this guidance on the full-year had them open -- this would be the worst day since may of last year. >> i've got them on, and i want to spend some more time on that because they've don

starbucks' ceo laxman narasimhan is stepping down, effective immediately.. the stock moving in a very big way on the back of this news, up 14% over at starbucks. and chipotle, by the way, it's the other direction. and mellody hopson, the current starbucks chair will become lead independent director and she joins us right now. and we welcome her to the broadcast. thank you for joining us, especially as this newsis just crossing the tape. mel mel mellody, tell us how this happened. there's obviously been a lot of challenges at starbucks over the past year. >> it's my pleasure to be here. thanks for having me. it happened because our board a couple of months ago started to engage in a conversation about the leadership of the company and i made an overture through someone to brian and he took the call. and we thought we had the opportunity to engage with one of the biggest names in the industry, someone whose track record is just clearly proven. not only through the spectacular results that hooe's had at chipotle, but also at pizza hut and taco bell. he knows t