Brian Niccol’s arrangement underscores the gulf in bargaining power between high-ranking executives and the average employee in terms of flexibility.

Newly appointed Starbucks CEO Brian Niccol won’t be required to relocate to the company’s headquarters in Seattle when he joins the coffee giant next month.

Instead, Starbucks says Niccol can live in his home in Newport Beach, California and commute to Starbucks’ head office 1,000 miles away on a corporate jet, according to the new CEO’s offer letter, which was made public in an SEC filing last week.

In his new role, Niccol, 50, will be paid a base salary of $1.6 million annually and has the opportunity to earn an annual cash bonus that could range from $3.6 million to $7.2 million depending on his performance. He will also be eligible for annual equity awards worth up to $23 million.

  • EnderMB@lemmy.world
    26·
    3 months ago

    A few questions here:

    • Why the fuck does Starbucks have a corporate jet? I know they’re a global company, but surely the CEO doesn’t need to be abroad that often?
    • Why would a company subsidise travel for a CEO to the tune of (likely) as much as he would get paid in a salary? If I were to tell my employer “I want to supercommute it’ll cost you $100k” I’d be laughed out. Hell, if I asked for $100 I’d probably be laughed out of the room…

    Jets aren’t even remotely cheap to run. They cost millions, they cost tens of thousands to operate, and that doesn’t include personnel costs or costs regarding runway rental or the kind of shit a CEO would need while in the air.

    • 6gybf@sh.itjust.works
      7·
      3 months ago

      This is an unfortunately normal perk for c-level execs at major corporations. I’d be surprised if Starbucks only had one. He also most certainly has a driver (likely with military experience), and an apartment at the Ritz or similar in Seattle - all covered by the company.