Starbucks CEOs, Seasoned & New: Howard Schultz & Laxman Narasimhan in Seattle 9/7/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 7 September 2022

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Starbucks founder and longtime on-and-off CEO Howard Schultz is finally, officially, handing over the chain’s reins to a new CEO: Laxman Narasimhan. Andrew Ross Sorkin sits down with both in Seattle and discusses Starbucks leadership and culture, inflation, China, and labor unions over a “not cheap” cup of coffee. Plus, Meta is gearing up to release some next gen technology, Russia is tightening its literal power grip, and the markets are hitting all kinds of highs–and lows. In this episode: Howard Schultz, @HowardSchultz Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer: @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer, today on Squackpot.
0:08.0	Starbucks is brewing a change.
0:11.0	After three separate stints as CEO Howard Schultz is finally
0:14.8	officially stepping aside. I am never coming back again because we found the
0:19.6	right person. That right person Lakshman Narishimman, a Pepsi and Consumer Goods alum.
0:25.0	It's a unique opportunity for me to apprentice, very close to an iconic founder in an iconic company with an iconic brand.
0:33.0	Andrew Ross Sorkin is in Seattle to speak with him both about the handover,
0:38.0	doing business in China and inflation's impact on our little joys.
0:42.0	It's still an affordable luxury.
0:44.0	If brands have differentiation and if brands provide benefits that are superior and they provide an escape,
0:50.0	I think consumers are sticking with them for now.
0:53.0	Those stories today, plus Russia's Powerhold, Meta's next-gen tech, and so much more.
0:59.0	If that's next, if he does that, that's a step too far for you.
1:02.0	Yes. Well, time for a step too far for you. Yes.
1:03.0	Well, time for a latte.
1:04.0	It's Wednesday, September 7th, 2022, and Squack Pod begins right now.
1:09.0	Stand back you by and three, two, one, fuel break. Good morning everybody.
1:15.0	Welcome to Squackbox right here on see NBC.
1:17.0	We're live from the NASDAQ market site in Times Square.
1:19.0	I'm Becky Quick along with Joe Kernan.
1:21.0	Andrew will be reporting live from Seattle this
	...

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