Starbucks has reportedly provided its new CEO, Brian Niccol, with a corporate jet for the lightning-quick commute from his Southern California mansion to the Seattle headquarters.
Coffee chain reveals Nichols deals Offer Letter This allows the new president to have a “small remote office” in his home in Newport Beach, eliminating the need to permanently relocate to the Emerald City, 1,000 miles away. CNN reported:.
“Brian Niccol has generated significant financial returns over the years and has proven himself to be one of the most effective leaders in our industry,” a Starbucks spokesperson said in a statement to CNN.
“We are confident that his experience and capabilities will bring long-term, enduring value to our partners, customers and shareholders as a leader of our global business and brand,” they added.
According to the agreement, Nicol will be able to use Starbucks’ corporate aircraft for business-related and personal travel “up to $250,000 per year,” an amount to be determined based on the total incremental cost to the company.
A Starbucks spokesperson told The Washington Post earlier this month that Nicol will be spending most of his time in the company’s Seattle headquarters, which means plenty of flights up and down the West Coast.
You can also fly thousands of miles through the air and visit some of the company’s 39,000 locations around the world.
“Brian’s primary office and the majority of his time will be spent in our support center in Seattle or with partners and customers visiting our stores, roasteries, roasting facilities and offices around the world,” a company representative told The Post.
The agreement appears to run counter to Starbucks’ environmental initiatives, which include a company-wide commitment to move entirely to reusable, recyclable or compostable packaging by 2030 and reduce waste by 50%.
Commercial and personal jet travel produces around 800 million tonnes of carbon dioxide annually, more than 2% of global energy-related emissions. International Energy Agency.
Private jets, due to their limited capacity, account for only a small fraction of total emissions, yet burn 10 times more fuel per passenger mile. Report According to the Institute for Policy Studies.
On Friday, environmental activist group Greenpeace Called for a total ban On a private jet.
Nicol could make at least $113 million as Starbucks’ new CEO.
His base salary will be $1.6 million, he has a signing bonus of $10 million, and he stands to earn millions more in additional cash depending on the company’s annual performance, according to Starbucks filings.
Nicol was poached from his role as CEO of Chipotle Mexican Grill earlier this month to replace Lakshman Narasimhan, who had been Starbucks’ CEO for less than two years.
