Incoming Starbucks 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.
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, 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.
Niccol's annual base salary will be $1.6 million. He'll also have an annual cash incentive opportunity at a target of 225% of his base salary and a maximum of 450% of base salary. If he achieves the maximum incentive, it would be about $8.8 million. Perhaps just as notable, Starbucks is not requiring that Niccol relocate to Starbucks headquarters in Seattle, saying he can remain in Newport Beach, California, where he currently lives and where Chipotle is based.
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