Brian Niccol, soon to be the Chief Executive Officer (CEO) of Starbucks, is set to begin his role in September. According to a company offer letter filed with the U.S. Securities and Exchange Commission (SEC) on August 11, Niccol will commute nearly 1,600 kilometers from his home in California to Starbucks’ headquarters in Seattle, Washington.
The offer letter outlines that Niccol will have access to the company’s corporate jet for his commute between California and Seattle, as well as for other business-related travel. Despite the distance, Niccol is not required to relocate to Seattle. Instead, Starbucks will accommodate his travel needs, and a small remote office will be established for him in Newport Beach, California.
Starbucks emphasized that Niccol’s primary office will be at the Seattle Support Center, where he will spend the majority of his time. He will also be actively involved in visiting Starbucks stores, roasteries, roasting facilities, and offices worldwide. Starbucks noted that Niccol’s schedule would exceed the hybrid work guidelines set for other employees.
Niccol, who is 50 years old, will receive a base salary of $1.6 million annually. In addition, he stands to earn a cash bonus ranging from $3.6 million to $7.2 million, along with an equity award worth $23 million. However, please note that these salary details may not be accurate, and we are not responsible if the information is incorrect. Niccol had a comparable arrangement during his tenure as CEO of Chipotle in 2018, where he was instrumental in relocating the company’s headquarters from Denver, Colorado, to California.