New Starbucks CEO will commute over 1,000 miles to work in corporate jet instead of relocating
Starbucks' new CEO will not be required to relocate across the country to commence his new job, his offer letter revealed.
The offer letter, which was made public in a filing with the SEC, reveals that Brian Niccol will be able to work from his home in California, as well as commuting in to the business' headquarters in Seattle.
His commute of roughly 1,000 miles would be done on the company's aircraft, which he is also permitted to use for other business-related travel.
The offer even says he can use the jet for personal travel 'in accordance with the Company's policies', up to a maximum cost of $250,000 a year.
Advert
This means that Niccol can still live at Newport Beach in California without having to relocate across the US.
According to the offer, Niccol will receive a base salary of $1.6 million per year.
He also has the opportunity to earn extra money in the form of an annual cash bonus which could be between $3.6 million and $7.2 million, depending on his performance, and annual equity awards worth up to $23 million.
But that's still not it either, as the company will provide even further support for Niccol, who was previously the CEO of Taco Bell Corp.
This includes establishing with his assistance a 'small remote office' in Newport Beach, which will be maintained at the company's expense.
It also details how Niccol will be able to appoint an assistant of his choosing to help run things from the remote location.
When not travelling for work Niccol will also be expected to work from Starbucks' office in Seattle at least three days a week, which is in alignment with the company's hybrid working policy.
This requires office-based employees to work from the office at least three days a week.
A spokesperson for Starbucks said: “Brian’s primary office and a majority of his time will be spent in our Seattle Support Center or out visiting partners and customers in our stores, roasteries, roasting facilities and offices around the world.
“His schedule will exceed the hybrid work guidelines and workplace expectations we have for all partners.”
Raj Choudhury is a professor at Harvard Business School and studies remote working.
He told CNBC: “Starbucks based its process of selection on this person’s prior record of boosting restaurant-based companies, not their location.
“I expect more companies will take notice and follow suit: If you want to attract and retain the best talent, you have to be open to flexible work arrangements.”
UNILAD has reached out to Starbucks for comment.
Kit Roberts