New Starbucks CEO Scores $113M Package While Working Remotely
How to fix Starbucks
Would you accept a job that pays you close to $113 million?
Starbucks made an offer to Brian Niccol, the CEO of Chipotle, that no one could refuse.
The package includes an annual $1.6 million salary and an annual cash bonus that could range from $3.6 million to $7.2 million, a $10 million sign-on bonus, a $75 million equity grant, and, starting in fiscal 2025, a grant that could be worth $23 million per year.
This is a great offer, but Niccol received an even better one. He won't have to move to the company's headquarters in Seattle; he can stay in California. However, he did agree to commute when necessary. This means he can work from home and receive free travel as needed.
Through an agreement with Starbucks, Niccol has been given access to their plane for travel between his home in California and Starbucks' headquarters in Seattle. Additionally, Starbucks will cover any temporary housing costs while he is in Seattle and provide him with a personal chauffeur for transportation around the city.
