Brian Niccol is slated to receive a sizable pay package as he becomes the CEO of Starbucks, according to a filing coffeehouse chain Starbucks recently submitted to the SEC.
Brian Niccol will receive a sizable pay package once he takes over as the CEO of Starbucks. Starbucks said Wednesday in a Securities and Exchange Commission filing the company will pay Niccol $1.6 million a year as an initial base salary.
The offer letter Starbucks included in its SEC filing indicated Niccol "will not be required to relocate" to Seattle and has agreed to "commute from your resident to the Company’s headquarters as is required to perform your duties and responsibilities." Niccol helmed Chipotle, headquartered in California, for about six years.
In a separate statement, he expressed excitement about joining Starbucks. "I have long-admired Starbucks iconic brand, unique culture and commitment to enhancing human connections around the globe," Niccol said. "As I embark upon this journey, I am energized by the tremendous potential to drive growth and further enhance the Starbucks experience for our customers and partners, while staying true to our mission and values.
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