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https://www.nbcnews.com/business/business-news/starbucks-new-ceo-will-supercommute-1000-miles-california-seattle-rcna167358
Aug. 20, 2024
Starbucks' new CEO will supercommute 1,000 miles from California to Seattle
Brian Niccol’s arrangement underscores the gulf in bargaining power between high-ranking executives and the average employee in terms of flexibility.
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.
Cont.
Aug. 20, 2024
Starbucks' new CEO will supercommute 1,000 miles from California to Seattle
Brian Niccol’s arrangement underscores the gulf in bargaining power between high-ranking executives and the average employee in terms of flexibility.
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.
Cont.
