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.

  • @[email protected]English
    101•3 months ago

    “It’s becoming increasingly common because we’re still in a competitive labor market,” he explains. “Executives aren’t accepting job offers if flexibility isn’t on the table.”

    CEOs of major corporations aren’t a “labor market”. They’re a bunch of narcissists looking for their next hit. They won’t accept working conditions that don’t favor them because they a) don’t need to work and b) their motivation is being a business king and the more ridiculous the package is, the better it feels. It’s just a MBA delusion that he has a special brain worth tens of millions of dollars more than promoting some underling. That the market thought 10% of Chipotle’s entire value was this guy’s special brain is just insanity.