New Starbucks CEO to make over $100 mn in 1st yr, not required to relocate

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New Starbucks CEO to make over $100 mn in 1st yr, not required to relocate - Business Standard

Quick Summary:

Starbucks announced on Tuesday that Brian Niccol would become its chairman and CEO, taking over from Laxman Narasimhan, who stepped down abruptly after spending a little more than a year as the company's top executive.

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.

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.