Starbucks gives new CEO huge pay package
Brian Niccol, named the chairman and chief executive officer of Starbucks on Aug. 13, 2024, is shown during an interview on June 9, 2015, in New York. (AP Photo/Mark Lennihan, File)
Starbucks' incoming 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 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. Niccol will become Starbucks' chairman and CEO on Sept. 9.
Niccol is among the mostly highly sought after corporate executives after establishing a track record of success in turning around companies that have hit a rough patch, including Taco Bell and, most recently, Chipotle.
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