Starbucks CEO now has access to a company jet for personal travel

Starbucks CEO Granted Unlimited Jet Access for Safety Reasons

This week, Starbucks Coffee announced that, in light of recent events, CEO Brian Nicol will have unrestricted access to the company jet for personal travel, a decision aimed at enhancing his safety. This could prompt other firms to consider similar measures for their executives.

A director from another publicly traded company, feeling the pressure to follow Starbucks’ example, shared that “the assassination of a United Healthcare executive gave the board a reason to allow the CEO to travel on a private jet.”

The spokesperson for Starbucks explained that the board took this step following a “risk security review” that highlighted the need for increased protective measures for Nicol. “The board’s decision means Brian must use a private aircraft for all travel. They’ve also instituted a quarterly review process for better oversight,” the spokesperson added.

According to a recent SEC filing, there’s been a recognition of a “credible attacker” specifically targeting Nicol. Notably, last September, Starbucks eliminated a previous limit of $250,000 on personal jet usage. However, some insiders doubt that security was the only factor prompting this change.

“It seems they were concerned about him flying commercial,” remarked an executive from another company. “Nicol has always preferred private flights for personal trips. Now, he doesn’t even have to reimburse the company anymore.”

Positioned among the top 150 U.S. companies by market cap, Starbucks is valued at over $100 billion. Nicol, who took the helm in September 2024, has been focused on revitalizing sales, which recently increased by 4% in the last quarter.

This decision might set a trend for other businesses, yet it also carries risks. “If a company’s performance disappoints investors, they often scrutinize private jet usage, labeling it a sign of excessive spending,” a board member cautioned. “It allows critics to target perks easily, painting a picture of a company squandering money on personal travel.”