Summary Niccol's offer letter reveals significant salary and benefits, including the ability to work a hybrid schedule and fly on Starbucks-owned jets. Despite living in Newport Beach, Niccol will commute over 1,000 miles to Seattle at least three days a week using company aircraft. Environmentalists are concerned about the high CO2 emissions and financial costs associated with Niccol's extensive commute.
Starbucks recently hired a new Chief Executive Officer (CEO), Brian Niccol. However, Niccol is based in Newport Beach, California , as he was previously the CEO of Chipotle and that is where Chipotle is headquartered. However, one of the benefits from his recently disclosed offer letter was that Niccol was not required to relocate to Seattle , Washington, where the headquarters of Starbucks is located, and he could instead continue residing in Newport Beach.
This means that Niccol will most likely commute to Seattle from Newport Beach several times a week, as stated in his contract. Starbucks owns four Gulfstream G550s as corporate jets. Features of Niccol's offer letter Starbucks filed its offer letter for Niccol with the Securities and Exchange Commission (SEC) late last week.
This filing included Niccol's base salary, which is approximately $1.6 million. It also mentioned an annual cash bonus that ranges from $3.
6 million to $7.2 million, and the ability to cash in on annual equity awards that can total up to $23 million. One characteristic of the filed offer letter was N.