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.
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.
