Starbucks exec reacts to Bloomberg sugar ban plan

(CBS News) Howard Schultz, the chairman and chief executive officer of Starbucks, said he supports the efforts to combat obesity, but said Mayor Michael Bloomberg's efforts in New York to ban sugary drinks over 16 ounces may not produce the results the mayor wants.

Starbucks likely to change controversial drink

"I applaud his approach and obviously the objective," Schultz said on Tuesday "CBS This Morning. "I'm not sure that he's going to achieve the results that he desires as a result of this initiative. But clearly, there is a significant problem with obesity, and I think he's trying to do something. I'm not sure it's the right approach, but we're obviously going to follow suit and respond to him because he's trying to do something that's quite important."

Bloomberg's plan has been shot down by the likes of The Coca-Cola Company, McDonald's and beverage industry trade groups.

Companies blast proposed NYC drinks ban

Schultz also discussed how he's trying to create jobs in the U.S. with the Create Jobs for USA Fund. Watch the video in the player above for more on that initiative.