Starbucks’ New CEO Opts For 1,000-Mile-Commute Over Relocating For Work
His travel budget is very "modest."
When it comes to jet-setting, most of us think of luxury vacations, not daily commutes. However, for Starbucks’ new CEO, Brian Niccol, this is about to become his new normal. Who says you need to live near your office to be the boss?
While many of us are still grappling with the reality of working from home in sweatpants, Brian Niccol is taking remote work to new heights—literally. Instead of relocating to Seattle, the bustling coffee capital, Niccol will be commuting over 1,000 miles from his sun-soaked home in Newport Beach, California.
But don't worry, he's not catching the red-eye or a cramped commercial flight. No, Niccol's morning "commute" will be aboard Starbucks' very own corporate jet. This kind of jet-setting flexibility might seem like a dream for most of us, but for Niccol, it's all in a day's work.
According to Starbucks' recently disclosed SEC filing, Niccol's unique arrangement means he'll be splitting his time between the laid-back vibes of Southern California and the caffeinated hustle of Seattle.
And while some might balk at the idea of such a long-distance leadership role, it’s clear that Starbucks is willing to bend over backward—make that fly across the country—to accommodate their new top dog.
Niccol prepares to brew up some big changes from Newport Beach to Seattle
Robin Marchant/Getty Images
After all, this is the same Brian Niccol who turned Taco Bell into a cult favorite, so it’s no wonder Starbucks is rolling out the red carpet—or, in this case, the jetway—for him.
But Niccol's perks don’t stop at a personal jet commute. The offer letter reveals that he can also use the jet for personal travel as long as he stays within a $250,000 annual budget.
And in case you're worried about him getting lonely in Newport Beach, Starbucks is also setting up a "small remote office" just for him, complete with an assistant of his choice.
Niccol’s offer letter reads less like a job proposal and more like a VIP invitation to the world’s most exclusive club. It's clear that Starbucks is pulling out all the stops to ensure its new CEO is comfortable and well-supported wherever he chooses to work.
In addition to the $1.6 million base annual salary, he’s also eligible for an annual cash bonus that could add another $3.6 million to $7.2 million to his coffers, depending on how well he steers the ship. Add to that annual equity awards that could reach up to $23 million, and you’ve got a compensation package that’s as frothy as a Starbucks Frappuccino.
Starbucks' new CEO smiles bright in the city that never sleeps—good thing his office is just a jet ride away
Jennifer Lourie/FilmMagic
Of course, Niccol won’t be jetting off into the sunset every day. He’s still expected to show face in Seattle at least three days a week, as per Starbucks’ hybrid working policy. But for a man who’s known for turning around fast-food giants, it seems like a small price to pay.
Raj Choudhury, a professor at Harvard Business School, said, “If you want to attract and retain the best talent, you have to be open to flexible work arrangements.” It looks like Starbucks is taking this advice to heart, making sure its new CEO is both caffeinated and comfortable as he soars to new heights, both in the skies and in the boardroom.
Jesse
