Starbucks’ new CEO to commute daily from California to Seattle headquarters.
Brian Niccol has taken over as the CEO of Starbucks, based in Seattle, Washington. However, Niccol resides in California, over 1600 km away from the office headquarters.
As part of Brian Niccol’s employment terms, he will be using the company’s corporate jet to make the daily commute between his home and the Seattle office, as per the company’s hybrid work policy instituted in 2023. This stipulates working from headquarters at least three days a week.
The 50-year-old will earn an annual salary of $1.6 million, along with performance-based bonuses ranging from $3.6-7.2 million and equity awards of up to $23 million. His commuting arrangement echoes a similar deal during his prior role as CEO of Chipotle, which moved its headquarters to his home state.
A Starbucks spokesperson commented that Niccol will divide his time between various offices and store locations globally. His schedule is expected to exceed existing workplace flexibility guidelines for employees.
Top executives occasionally secure special arrangements due to strong negotiating positions. However, not all CEOs can work remotely, with some advocating a return to offices full-time.
Niccol’s terms are tied to reviving sales performance in key markets like the US and China amid leadership changes. He will aim to replicate his success turning around Chipotle’s fortunes during his tenure there.
