🧐 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 — 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.
How to I get a hold of him? I need to tell him to resupply the mango syrup flavor
You’d have to go through the hierarchy. He’s not touchable! Lol
I have no issue with the concept of a sign on bonus - it's agreat incentive, but 10 mil suggests something shady is going down. As for remote work, it depends on his duties as CEO, I hade new one come on my last job and he spent the first 3 months visting our sister sites around the world, so it can be reasonable depending on context... Unless he's required to show up physically to meetings, possibly at headquarters, the jet is just wasteful - I'm going wiht unacceptable and suggest an investigation into the finances of the company, the investors, the CEO and anyone else involved in this circus - odds are there is some form of organized crime going on...
Also the same CEO that moved chipotle’s HQ to California where he lived/lives now, causing tons of people to lose their jobs if they didn’t want to relocate. The hypocrisy.
Boycott!
STOP going to Starbucks and START brewing your own or supporting local coffee houses! It’s that simple folks.
I’ve stopped buying Starbucks for a few years, not because of them tiktok finance advisors but because I rather support small local coffee shops.
That money could radically improve the life worker bees, but is instead going to make one individual richer. Unfair? Yes. Will people still buy the coffee? Yes.
It’s acceptable. In this electronic age, anyone running a multiple location business should be able to work from home when not traveling for work. Compensation is fine for a company in peril when he took over and for the size of it.
Why aren’t the Chinese cafes expanding to the US? That will get the CEO to do some real work to complete.
Starbucks’ star is waning fast.
Starbucks can say no to his ask, they didn’t. I don’t drink $7-a-cup, burnt tasting coffee, so I don’t really care.
Why is this an issue? If he's effective and saves or increased jobs, then good. Sure, he'll get a golden parachute of he falls and that's bad optics, but it's not like the average barrista has a clue how to run a company.
Chief
Bc ppl be jelly and salty
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I don't believe this man is so amazing that he will add $10 million plus salary, bonuses, expenses(vomiting to work). On the other hand a profit share or a bonus scheme to reward standout frontline employees. You could take whatever crazy salary a CEO would bleed from the company and use it to train and educate handpicked standouts from the aforementioned bonus scheme. I will guarantee 1. Happy healthy productive and creative workers 2. A positive effect on the balance sheet. 3. Improved worker retention and higher quality and quantity of workers wanting to work with your specific company. Plus more benifits on a bigger scale than just one company
that's why I've been to starbucks twice in my life. I mean, come on, ceo of a coffee company paying millions of dollars a year? WHAT COULD HE POSSIBLE DO TO EARN THAT. ALL YOU DO IS ADD CREAM AND SUGAR.
I used to be a barista until last month and Starbucks suuuucks bruh... Whatever they spendin on this man, I hope it makes it a better place to work🙃
Does his job involve making drinks?
Pro
In other news Aaron Judge also has a better life than all of us. Mostly because he is really good at hitting home runs and puts butts in seats / eyes on screen.
If you look up the history of CEO’s you will better understand the disparity.
$10 million doesn't go as far as it once did. What is the local Starbucks manager or new hire get for a "signing bonus". I'm sure it's comparable. Probably $500k, right?