Seattle : Brian Niccol, the newly appointed CEO of Starbucks, will undertake an extraordinary daily commute of 1,600 kilometers from his home in California to the company’s headquarters in Seattle. Niccol will use a corporate jet for this journey, adhering to Starbucks’ hybrid work policy that requires him to be present in the Seattle office at least three days a week.
Niccol, 50, will earn an annual base salary of $1.6 million, with additional performance-based cash bonuses ranging from $3.6 million to $7.2 million. He is also eligible for up to $23 million in annual equity awards. This commuting arrangement is reminiscent of his previous role as CEO of Chipotle, where a similar deal was in place.
A Starbucks spokesperson noted that while Niccol’s commuting arrangement is extensive, his work will predominantly occur at the Seattle Support Center or involve visits to various global locations. This flexibility in work terms is not uncommon for high-ranking executives who have significant negotiating leverage.
Niccol’s appointment follows a challenging period for Starbucks, with declining sales in key markets such as the US and China. His track record, including a 773% increase in Chipotle’s stock under his leadership, sets high expectations for revitalizing Starbucks’ performance.
This level of flexibility in work arrangements contrasts with other CEOs, such as Amazon’s Andy Jassy and JPMorgan Chase’s Jamie Dimon, who are advocating for a return to more traditional in-office work setups.