Work-From-Home Perk For New Starbucks CEO Riles Up Netizens
Niccol's base salary will be $1.6 million per annum. Depending on his performance, he is eligible for annual cash bonus ranging from $3.6 million to $7.2 million.
The newly appointed Chief Executive Officer of multinational coffee chain Starbucks, Brian Niccol, won't be required to move to the company’s Seattle headquarters when he joins next month. Instead, he can work remotely from his home in California.
According to a report in CNBC, Niccol will commute to the Starbucks' head office 1,000 miles away on a corporate jet when required. Niccol lives in his home in Newport Beach, California, while Starbucks is headquartered in Seattle, Washington.
The new CEO's offer letter, which was made public in an SEC filing last week, read, "During your employment with the company, you will not be required to relocate to the company’s headquarters (currently in Seattle, Washington). You agree to commute from your residence to the company’s headquarters (and engage in other business travel) as is required to perform your duties and responsibilities."
Starbucks CEO Brian Niccol's Salary
Niccol's base salary will be $1.6 million per annum. Depending on his performance, he is eligible for annual cash bonus ranging from $3.6 million to $7.2 million. He also received a cash signing bonus of $10 million.
Outrage On Internet
The work-from-home perk offered to Niccol has kicked up dust on the internet with many netizens questioning the move.
On X, formerly Twitter, several criticised Niccol’s opportunity to work from home.
"Just a terrible decision by the Starbucks board (and this new CEO)... a $10m signing bonus, allowing him to work remotely from LA while imposing back-to-work policies for other employees," one wrote.
"Interesting how CEOs think it is okay for themselves to work remotely but not other office workers," another claimed. "Potentially massive pay package for Starbucks new CEO, and he doesn't even have to move to Seattle."
On August 13, multinational coffee chain Starbucks announced the appointment of Brian Niccol as chairman and chief executive officer replacing Indian-origin CEO Laxman Narasimhan. Niccol, who will be Starbucks’ fourth CEO in just two years, was leading the Mexican-inspired food chain Chipotle since 2018.
