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The coffee giant hired Niccol from Chipotle Mexican Grill in the hopes that his background would help the business recover from its financial setback.
For only 4 months of work in 2023, Starbucks Corporation gave its new CEO, Brian Niccol, an astounding $96 million remuneration package, making it one of the biggest in corporate America, according to a Bloomberg article. Approximately 94 percent of this settlement was made up of stock awards. Performance is the main determinant of these stock awards, however, some are also tied to time-based vesting over a three-year period. After completing his first month with the company, Niccol was given a $5 million sign-on bonus in addition to the stock awards.
After Starbucks decided to fire its former CEO due to a string of declining sales, Niccol assumed the position of CEO. The coffee behemoth hired Niccol from Chipotle Mexican Grill in the hopes that his background would help the business recover from its financial setback. Despite having its headquarters in Seattle, Starbucks did not demand that Niccol move there right away. Rather, they gave him access to the company jet and paid for his short-term housing. Read more »
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