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Starbucks CEO Brian Niccol’s $96 million pay package dwarfs his predecessors

Starbucks is paying Niccol much, much more than it has paid any of its past CEOs.

1/27/25 12:10PM

Starbucks CEO Brian Niccol made $96 million in his first four months on the job, making him the most highly compensated chief exec in the company’s history by a long shot.

Niccol’s compensation consists mostly of equity in Starbucks, a regulatory filing submitted Friday showed. His compensation includes a $5 million sign-on bonus and about $91,000 in expenses related to his use of the company’s private jet, which transports him from his home in Southern California to Starbs’ HQ in Seattle.

The company’s board was obviously very eager to persuade Niccol to jump from Chipotle, where his total compensation in 2023 was $22.5 million. Investors were also excited to have him on board, which added $20 billion to the company’s market cap shortly after the move was announced.

Niccol’s $96 million pay package is a lot more than Starbucks has paid its CEOs in the past. From 2023 to 2017, Starbs spent a total of $103 million paying its CEOs. Even the company’s longtime top exec Howard Shultz was making about $20 million before he stepped down in 2017.

Starbucks has suffered from stagnant sales, a challenging international market, and a tumultuous relationship with a union that represents thousands of its baristas.

So far, Niccol has not drastically changed the company’s fortunes. He’s imposed changes that include a no-loitering policy, getting rid of the vegan-milk tax, and adding personality to the customer experience, like bringing back mugs, latte art, and handwritten names on coffee cups.

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.