
The incoming CEO of Starbucks was joined in September 2024 by Niccol, previously the CEO of Chipotle. Company filings reveal that within a month of stepping into his new role, he was granted a $5 million sign-on bonus.
According to Bloomberg, Starbucks chief executive Brian Niccol has bagged the highest compensation packages in the US. Niccol, 50, received nearly $96 million in 2024 as his pay package for just four months of work, making him one of the highest-paid executives in corporate America.
His earnings even lag behind the compensation awarded to the CEOs of tech giants like Apple and Google. According to several media reports, Tim Cook and Sundar Pichai earned about $75 million each last year.
In September 2024, Niccol joined Starbucks, previously the CEO of Chipotle. Company filings reported that he received a sign-on bonus worth $5 million within the first month of his new role. His earnings comprised 94% of stock awards tied to the company’s three-year performance.
Brian Niccol did not have to move to Seattle, Starbucks’ headquarters. Starbucks provided him with a corporate jet for travel between his California home and Seattle.
The company paid $143,000 in housing expenses, including tax-related payments, and $72,000 for Niccol flights between California and Seattle. It also paid $19,000 for his personal use of the company jet.
According to Bloomberg, Niccol’s total annual pay package is estimated to be around $113 million, which positions him as one of the world’s top 20 highest-paid CEOs.