Pay of over 100 million yuan! Starbucks 'new CEO enjoys "super emperor treatment"?!

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After the stock price soared after the replacement of CEO, Starbucks recently reported the envy of most of its workers-they have prepared a salary of more than 100 million for the new CEO.

Starbucks has prepared a total compensation of $113 million for the new CEO, including a signing bonus of $10 million, a $75 million equity stake and an annual long-term equity award of $23 million starting in fiscal year 2025, according to a Starbucks filing with the Securities and Exchange Commission (SEC) on Wednesday.

In addition, Nicole gets a basic salary of $1.6 million a year and a cash bonus ranging from $3.6 million to $7.2 million. Compared with the total salary of $22.5 million paid by Nicole's former employer Chipotle last year, Starbucks paid him four times as much as before.

(Starbucks offer screenshot of Brian Nicole)

Some media pointed out that if it were all realized, it would be one of the most expensive compensation packages in the history of American companies. Using the CEO pay rankings of the S & P 500 as a reference, Starbucks paid Nicole more than Apple's Cook ($63 million), similar to Blackstone Group Stephen ($120 million).

(screenshot of the top 10 parts of CEO compensation ranking of S & P 500 companies in 2023)

In addition, Starbucks abandoned strict rules on telecommuting and allowed heavily hired CEO to telecommute for a period of time. You know, founder Howard briefly took over the company after the outbreak, when he asked employees to work in the office at least three days a week and said telecommuting didn't work well.

But it is understood that the new CEO does not need to immediately move to Seattle, where Starbucks is headquartered, but only needs to go to the company headquarters if necessary, so he will continue to live thousands of miles from Seattle in Newport Beach, Calif., where he can work in a small telecommuting studio specially set up for him by Starbucks.

If Nicole changes his mind about going to Seattle, Starbucks will also pay for all temporary housing during his stay and arrange for a private chauffeur to pick him up. To make matters more exaggerated, Starbucks said the new CEO could use the company's plane to commute between his home and Starbucks headquarters, where a main office would be reserved.

Such a generous and thoughtful treatment is the envy of others. According to media reports, former Starbucks CEO Nathhan was paid a gift package of about $28 million when he joined Starbucks, and the UK-based executive was asked to work in the field in Seattle after receiving notice.

By contrast, Nicole, who drove the surge in Starbucks' market capitalization, let his new owner make an exception and allow him to telecommute before he took over, a generous salary and considerate treatment that fully illustrates the importance Starbucks attaches to it.

A Starbucks spokesman said Nicole had proved to be one of the most capable leaders in the catering industry and had made considerable financial returns for the companies he worked for over the years. His compensation at Starbucks will be directly linked to the company's performance and the common success of all stakeholders. Starbucks firmly believes that it will create long-term and continuous value.

Picture from: Internet

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