Article: The CEO who made $96M in 4 months—while flying 1,600km to work

Compensation & Benefits

The CEO who made $96M in 4 months—while flying 1,600km to work

CEO Brian Niccol’s $96 million payout in just four months makes him one of the highest-paid executives in the US, as Starbucks’ stock rises 5% since his September 2024 appointment.
The CEO who made $96M in 4 months—while flying 1,600km to work

Starbucks CEO Brian Niccol was paid $96 Mn as his compensation for completing just four months at the coffee chain giant, which he joined in September 2024, according to the company filings. 

With this Niccol, 50, has become one of the highest-paid executives in the US corporate world, leaving behind heavyweights such as Alphabet CEO Sundar Pichai and Apple CEO Tim Cook who earned around $75 Mn each in 2024.

According to the company filings, about 94% ($90, 291, 772) of Niccol’s earnings came from stock awards. He received $5 Mn from a sign-on bonus and about $62,000 in salary, among other salary components. 

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Besides, Niccol commutes through a company-owned aircraft to fly from California to Seattle. Starbucks has a hybrid working policy that requires Niccol to be at the Seattle office at least three days a week. 

Moreover, Starbucks Corporation has also agreed to pay for his temporary housing costs.

Niccol joined Starbucks to revamp its operations to address declining sales and shifting consumer habits. Before Niccol, Starbucks experienced a challenging period with a decline in sales under its previous CEO Laxman Narasimhan.

He was earlier with Chipotle, an American multinational chain of fast-casual restaurants, receiving an annual package of about $33 Mn for many years. He drove its revenue by more than 700%. 

Meanwhile, Niccol has more than 22,000 shares of Chipotle, worth over $1 Mn, as of April 2024. According to a filing with the Securities and Exchange Commission in November last year, Niccol owns 425,803 shares of Starbucks that is worth $39 Mn by January 2025.

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Topics: Compensation & Benefits, C-Suite

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