STARBUCKS' incoming chief executive officer (CEO) could make well in excess of $100 million in his first year with the company under an incentive-laden contract, and he will not be required to relocate from his home in California to Seattle, the home of the global coffee giant.
STARBUCKS ' incoming chief executive officer could make well in excess of $100 million in his first year with the company under an incentive-laden contract, and he will not be required to relocate from his home in California to Seattle, the home of the global coffee giant. Starbucks announced on Tuesday that Brian Niccol would become its chairman and CEO , taking over from Laxman Narasimhan, who stepped down abruptly after spending a little more than a year as the company's top executive.
In a filing with the Securities and Exchange Commission late Wednesday, Starbucks said that the 50-year-old Niccol will receive a cash bonus of $10 million as well as $75 million in equity to make up for what is being forfeited by his abrupt departure from Chipotle. The equity component of his pay package will vest over time and is contingent on meeting performance targets.If Starbucks meets those targets and other goals, his pay could easily surpass $100 million in his first year.
Starbucks CEO To Get Huge Payout
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