Starbucks incoming CEO Brian Niccol will undertake an extraordinary 1,600-kilometer daily commute from California to the company’s headquarters in Seattle, using a corporate jet. Niccol, set to start next month, will adhere to Starbucks’ hybrid work policy, requiring him to be in the Seattle office at least three days a week.
His compensation includes a $1.6 million base salary, with potential cash bonuses ranging from $3.6 million to $7.2 million, and annual equity awards up to $23 million. Niccol previously negotiated a similar arrangement at Chipotle.
Starbucks aims to address declining sales with Niccol’s leadership. The move mirrors other high-ranking executive concessions but contrasts with recent pushes by some CEOs, like Amazon’s Andy Jassy and JPMorgan Chase’s Jamie Dimon, to reinforce in-office work.
