SAURAV PANDEY
August 21, 2024
Brian Niccol will live in Newport Beach and commute to Starbucks’ Seattle HQ by corporate jet.
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Niccol’s base salary is $1.6 million, with bonuses up to $7.2 million and equity awards worth up to $23 million.
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Niccol had a similar deal at Chipotle, which later moved its headquarters to Newport Beach.
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Starbucks will provide Niccol with a remote office and assistant in Newport Beach, but he must work from Seattle at least three days a week.
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Starbucks requires most employees to work from the office three days a week, but Niccol’s arrangement is more flexible.
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Remote work for CEOs is becoming common to attract top talent.
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Victoria's Secret also allowed its new CEO to work from a different city than its HQ.
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Niccol’s appointment comes as Starbucks faces performance challenges; he is known for turning around troubled companies.
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Offering flexible work arrangements helps companies attract high-level executives.
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More remote work for executives might lead to greater flexibility for other employees.
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