Brian Niccol, currently the CEO of Chipotle, is set to take the helm as Starbucks’ new CEO, with a compensation package that could reach $113 million, according to an SEC filing. Niccol’s annual base salary will be $1.6 million, with the potential to earn up to $7.2 million in yearly bonuses. Additionally, he will receive a $10 million sign-on bonus.
The majority of his compensation will come from stock grants valued between $75-80 million, with an additional $23 million in annual stock grants starting in the next fiscal year. These stock awards will vest over four years. Notably, Niccol will be working from home in his new role.
Also read: Starbucks CEO Laxman Narasimhan Replaced by Chipotle’s Brian Niccol
In contrast, the average annual salary for a Starbucks barista in the U.S. is approximately $49,287, according to Glassdoor, highlighting the significant pay gap between the company’s top executive and its frontline employees.
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