Newly appointed Starbucks CEO Brian Niccol won’t be required to relocate to the company’s headquarters in Seattle when he joins the coffee giant next month.
Instead, Starbucks says Niccol can live in his home in Newport Beach, California and commute to Starbucks’ head office 1,000 miles away on a corporate jet, according to the new CEO’s offer letter, which was made public in an SEC filing last week.
In his new role, Niccol, 50, will be paid a base salary of $1.6 million annually and has the opportunity to earn an annual cash bonus that could range from $3.6 million to $7.2 million depending on his performance. He will also be eligible for annual equity awards worth up to $23 million.
I bet he won’t be fired if his plane is delayed 20 minutes. Unlike a barista who got stuck in traffic.
Oh cool, more corporate waste…
Kinda looks like Justin Trudeau
The climate crisis could be solved with probably just a single guillotine.
Axes are more portable, and the turn around rate is faster. Just saying.
