Brief by Shorts91 Newsdesk / 08:29am on 21 Aug 2024,Wednesday Business
Starbucks' new CEO, Brian Niccol, will commute daily from California to Seattle, covering 1,600 kilometers each way using a corporate jet. As part of his employment agreement, Niccol will be in the Seattle office at least three days a week, in line with the company's hybrid work policy. At 50, Niccol will receive a base salary of $1.6 million annually. His performance could earn him an additional cash bonus ranging from $3.6 million to $7.2 million, along with potential annual equity awards worth up to $23 million. This arrangement underscores the company's confidence in Niccol's leadership despite the challenges posed by his long commute.
