🧐 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.
These types of posts are always polarizing. His track record for growing the market value of Chipotle is what the board at Starbucks is banking on...yes, it's a big bet for sure, but successful CEOs of multi-billion dollar corporations don't come cheaply. Just remember, being a CEO at such a large organization isn't a 40 hour/week job. Hopefully, he keeps the private jet parked more often than not, but the hypocrisy of climate change is always front and center.
I was referring to in-store Starbucks employees
Welcome to Corporate America. If you seek "family", or fairness, or common sense, then you are in the wrong place.
Do you job, get your compensation and concentrate your thought on your family.
His base salary is only 1.6 million. That’s actually not a lot- partners at my firm make that. Other people at top companies- not CEO’s- such as at Tesla make that. Of course the sign on bonus is going to be high.
It's similar to how most ceos are paid. For example wells fargo ceo has a base pay of 2.5 million but a total comp of 29 million
It depends on your set of values or how you measure value
Not absurd compared to Ohtani's $700M 10 year deal. No one complains when athletes make a killing but rather worship them.
I know isnt that crazy. One wonders y you can't afford to go to sporting events.
Stop watching other peoples money and earn it yourself. He is ultimately responsible for supporting about 1 million people salaries. He deserves the money.