New Delhi: The new CEO of Starbucks, Brian Niccol will be making an exceptional daily commute to his new office. Niccol, who lives in California, will travel 1,600 kilometres every day to Starbucks’ headquarters in Seattle.
According to his employment agreement, Niccol will use a corporate jet for this daily journey. Despite the distance, he is expected to work from Starbucks’ Seattle office at least three days a week, in line with the company’s hybrid work policy, which has been in effect since 2023, India Today reported.
Niccol, aged 50, will receive an annual base salary of $1.6 million. Apart from this, he is eligible for a cash bonus ranging from $3.6 million to $7.2 million, depending on his performance. He will also have the opportunity to earn up to $23 million in annual equity awards.
This commuting arrangement is not new for Niccol. When he was CEO of Chipotle in 2018, he arranged a similar deal. Chipotle, which was headquartered in Colorado, moved its headquarters to California just three months after Niccol took on the role, the report added.
“Brian’s primary office and a majority of his time will be spent in our Seattle Support Center or out visiting partners and customers in our stores, roasteries, roasting facilities and offices around the world. His schedule will exceed the hybrid work guidelines and workplace expectations we have for all partners,” a Starbucks spokesperson was quoted as saying.
Such flexible work terms are often negotiated by high-ranking executives who have significant negotiating power.
Niccol’s appointment comes with high expectations, given his impressive track record of revitalising companies. Under his leadership at Chipotle, the company’s stock reportedly increased by 773%.
