Starbucks' new CEO will spend more than your salary?
Starbucks' new CEO will spend more than your salary…?
Starbucks, a worldwide coffee chain company, recently removed Indian-origin Laxman Narasimhan and appointed Brian Niccol as its CEO. Now information has come to light that Brian Niccol will travel from Seattle to california for office commute. He will use a private jet to cover the distance of 1600 km between these two cities. In this way, the company will spend lakhs of rupees on his daily office commute. The whole world is surprised to know about this arrangement made by Starbucks for its CEO.
Brian Niccol will work from the company's Seattle headquarters 3 days a week
According to Starbucks' Hybrid Work Policy, Brian Niccol will have to work from the company's Seattle headquarters 3 days a week. Since his home is in california, he will have to travel there at least 3 days a week. Therefore, the company has also arranged for a private corporate jet in his offer letter. This hybrid work policy has been in place at Starbucks since 2023. The company has high hopes from 50-year-old CEO Brian Nicol. He took the company to new heights while being the CEO of Chipotle Mexican Grill. Under his leadership, the company's stock also made a huge jump.
Will get $ 1.6 million salary, $ 3.6 million cash bonus and $ 7.2 million performance bonus
According to Starbucks' contract, Brian Nicol will get an annual salary of $ 1.6 million. Apart from this, he will also be given $ 3.6 million cash bonus and $ 7.2 million performance bonus. Along with this, he will also be entitled to $ 23 million annual equity. In such a situation, it can be understood that Starbucks has a lot of expectations from Brian Nicol. This is the reason why the company is going to spend millions of dollars on his travel alone. During the tenure of Laxman Narasimhan, Starbucks' sales fell in many big markets including America and China. This is the reason why the responsibility of the company has now been handed over to Brian Nicol.