New Starbucks CEO to Commute 1,600 Km Daily: A Unique Corporate Arrangement
Starbucks' new CEO Brian Niccol will commute 1,600 km daily by plane to Seattle, leveraging a hybrid work perk amid challenges in the company’s key markets.
Starbucks’ New CEO Brian Niccol to Commute 1,600 Kilometers Daily by Corporate Jet Amidst Falling Sales in Key Markets
Brian Niccol, the incoming CEO of Starbucks get prepared for a plane ride of 1,600km daily to the headquarters of Starbucks in Seattle, as highlighted in his offer letter. Under new hybrid work arrangements launched in 2023, Starbucks’ employee Niccol living in California will use a corporate jet to commute between home and work.
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By the terms of the offer, Niccol is expected to work at the Seattle office for at least three days a week. This long-distance commute isn’t new for Niccol who previously managed to negotiate same arrangement when he joined Chipotle as their CEO in 2018. While working there, he used to work from Chipotle’s headquarters in Colorado until the company shifted to California soon after he joined the company.
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As part of remuneration, Niccol has been receiving a salary of $1. Yearly target of 6 million dollars and a performance based cash bonus of between 3 dollars. 6 million to $7. $7.2 million, and an annual equity incentive award up to $23 million. This is why Starbucks is pinning most of its expectations on Niccol, who has helped other companies such as Chipotle regain their vigor; its stock increasing by 773%.
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It also arrives at a time that the coffee shop chain’s sales have been declining in its two largest markets; the United States and China. His flexible way of getting to work also shows the power shift where he and other high-ranking executives enjoy a good negotiating position like Hilary Super of Fenty x Savage. As such, Starbucks is looking forward to steering through the existing problems with Niccol at the head of the company and the main representative of its brand.
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