Starbucks’ New CEO Takes Home Nearly $100 Million in Just Four Months
Updated on
Published on
Starbucks has a fresh face at the helm, and he’s been generously rewarded for stepping in. Newly-appointed CEO Brian Niccol pulled in almost $100 million during his first four months on the job, according to a recent securities filing—an eye-popping figure that dwarfs the $14,674 median pay earned by Starbucks’ part-time baristas.
Most of Niccol’s mega-payday comes from stock awards, specifically designed to entice him away from his previous role at Chipotle. On top of that, there’s a $5 million signing bonus, another $5 million waiting for him in February, plus perks like air travel expenses, temporary housing, and hefty security upgrades to his home. Starbucks says these benefits—and Niccol’s new commute from California to Seattle on a corporate jet—are all part of its commitment to having the CEO at ground zero, visiting stores that most need his attention.
Niccol’s grand payday underscores Starbucks’ decision to shake things up in the C-suite: He’s promised changes to streamline the coffee giant, including a possible round of job cuts come March. Meanwhile, critics note that pay disparities between executives and frontline employees remain as stark as ever, even at a brand long celebrated for progressive practices.
