đ§ A new CEO just joined Starbucks after leaving Chipotle, received a $10 million sign-on bonus, will be able to work remotely, and will fly in on a corporate jet to Seattle when necessary for meetings.
Is this a case of "rules for thee, but not for me"? Or do you think it's acceptable?
Share your thoughts below!
https://finance.yahoo.com/news/why-new-starbucks-ceo-brian-niccol-is-worth-the-85-million-and-remote-california-office-123000014.html
So annoying that these are the same companies with greenwashed sustainability initiatives --- dude is flying in for meetings???? Give me a break. I don't think they read the room at all LOL
I think it's fine. He has a level of expertise that merits the compensation, and he probably has a lot of pressure to deliver. 99% of the population can't do this job, so. Completely pivoting a company is not a skill set that you can pay lightly for at that level, lots of moving parts
CK1 â He does not get the money no matter what. Most companies include clawback provisions in employment contracts that require employees to repay sign-on bonuses if they do not fulfill certain obligations, such as staying with the company for a specific period of time. This is common, especially if the bonus is significant.
He can fly on his private jet to HQ but the rest of us canât get straws :/
Pro
It makes sense, since that personâs decision can sink or grow the company. Its not like someone messed up one coffee order, when that person messes up, people lose jobs and debtors lose money.
And he'll walk straight into another C-suite job, with a pre-arranged golden parachute...
Rising Star
i stopped Starbucks completely. also stopped coffee completely.
very happy
Enthusiast
Boycott SBUX
Forget Starbucks and their genocide supporting antics. Buy local coffee.
I boycott Starbucks for facilitating genocide in Palestine. So I want to see their decline, downfall...
Gee, how can he afford to live off of only $38,000 per business day!! Oh my bad, that is only the sign-on bonus.
I smell a price hike!
~youâre psychic lol
How many livable wages does $10million provide. How much cash flow would $10 million dollars worth of frontline employees labour generate. No jet for these folks.. These that believe they are worth more than the entire payroll of the employees that are responsible for the operations and service of the customer are living in a bubble. One day it WILL burst and those lowly workers that have been kept struggling by those that dont live in reality will bring about a balancing of the wealth distribution. Investment in being appreciative, respectfully, and gracious to those that make your extravagant dream world possible.
Over payed CEO's is not new but working from another state or more is just terrible and a message to us.
Remember his private jet when they say they're switching to paper straws to protect the environment.
Chief
Their market cap went up by $21.4 BILLION when they signed him so paying him $10M sign on for that actually sounds like a sweetheart of a deal for them, $100M still would have been cheap at the price just for the sign on, and worth multiple of his total comp.
Starbucks has already increased prices substantially above inflation. Wonder how much more they can raise prices without having revenues fall even more
Theyâve lost a lot of their original base over the last couple years
Llike ball players who hit home runs, he hit a grand slam where he turned around Chipotle.
Sorry, but Iâm not going to bemoan an executive getting a big pay-day based on the expectations that he/she will create more value for the company with his/her leadership.
Too many people seem to think that an executive getting paid millions of dollars in salary means that companyâs employees somehow earn less. Thatâs just not true in the majority of cases.
Most people, if their employer offered them a big raise and a promotion, would take it. And they donât worry that by taking a larger paycheck and a new position, that someone else in the company may now be getting paid less or even losing a job.
Agree while we worship athletes who are making a killing in the name of entertainment.
Heck NO! but since when hundreds of thousands of employees in a firm matter as much as ONE CEO lol
Maybe there is shrinkgate with my morning coffee
Too much ice
Do the đ€·đ»ââïž to get more
Enthusiast
This is a private company deciding how to spend their money. This has nothing to do with how much each of us is getting paid. It also is not a matter up for a vote from the masses. You can always forgo working there or drinking their coffee if you do not agree.
Chief
I agree, except for the part that it's a privately held company though..
Sickening with the bonuses đ