Starbucks will get a new chairman and CEO next month and he is set to get some mindblowing perks: A $1.6 million base salary, $3.6 million to $7.2 million cash bonus, up to $23 million in annual equity and above all, he doesn't have to relocate – Instead he can supercommute 1,600 km to work from his California home to the coffee behemoth's Seattle HQ on a corporate jet.
Niccol, 50, who is set to take over as Starbucks chief on September 9 will replace Laxman Narasimhan. Narasimhan's salary was $1.3 million, with cash bonuses estimated to be up to $5.85 million and equity worth $13.6 million, as per the filings.
His entry to Starbuck comes amid plunging sales of the coffee major. Niccol has a history of bringing struggling companies back to life including Taco Bell and Chipotle.
To make up for his abrupt departure from Chipotle, Niccol will also receive $10 million cash bonus and $75 million in equity. His base salary at Chipotle was $1.3 million with a total compensation of $22.5 million.
What is Supercommuting?
Supercommuting refers to travelling regularly between different cities or countries for work, whether it's on public transport or even flights. This could prove costly for commuters, in terms of money and time, unless the company pays for their jet travel like in the case of the Starbucks CEO.
Supercommuting is necessitated when people prefer to live in a more affordable part of the country or want to live with family members. The benefits of supercommuting include a better work-life balance and reduced cost of living.
