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    Starbucks' new CEO will have a remote office in California. Employees are supposed to be in the office 3 days a week.

    By Lian Kit Wee,

    17 hours ago

    https://img.particlenews.com/image.php?url=4OEMVo_0uybUSX000

    https://img.particlenews.com/image.php?url=114pVg_0uybUSX000
    Brian Niccol starts as the new CEO of Starbucks next month.
    • Brian Niccol is taking over as CEO of the Seattle-based Starbucks next month — from California.
    • He plans to work remotely and travel to the headquarters, where he'll have a driver.
    • Niccol's total compensation could exceed $113 million, surpassing his earnings at Chipotle.

    Brian Niccol is set to receive one of the highest compensation packages for a CEO of a publicly traded company — and he can work remotely.

    He's heading to the Seattle-based Starbucks from Chipotle to lead the coffee giant as it faces activist investors and other issues.

    Niccol can work out of a remote office in Newport Beach, California, where he previously helmed Chipotle, according to a Securities and Exchange Commission filing from Wednesday, which detailed Niccol's employment terms.

    The new CEO's base compensation is $1.6 million a year, with an annual bonus that could range from over twice to four times his salary, depending on the company's performance, the filing added.

    He received a $10 million signing bonus and annual stock awards valued at $23 million, set to be distributed beginning next year. To compensate for his departure from Chipotle, Niccol also gets a $75 million equity grant spaced out over three years.

    Including the multiyear stock grants, Niccol's total compensation could reach over $113 million. Niccol earned $22.5 million at Chipotle last year, while his predecessor Laxman Narasimhan earned $14.6 million during that same time, Reuters reported .

    "Brian Niccol has proven himself to be one of the most effective leaders in our industry, generating significant financial returns over many years," Starbucks told Fortune in a statement. "His compensation at Starbucks is tied directly to the company's performance and the shared success of all our stakeholders."

    The company will also reimburse Niccol's relocation expenses if he decides to move to Seattle and cover up to three months of temporary housing costs there. He'll get a driver in Seattle on Starbucks' dime.

    Starbucks, as a whole, does not encourage remote work. Early last year, then-interim CEO Howard Schultz required employees to work from the office for a minimum of three days a week, Bloomberg reported at the time.

    Tech leaders, including Google's former CEO Eric Schmidt, recently criticized remote-working models. Schmidt said that prioritizing work-life balance affected the tech company's competitiveness and productivity in the artificial-intelligence race. He later retracted his remarks.

    Niccol starts as CEO on September 9, according to the SEC filing.

    Starbucks did not immediately respond to a request for comment sent outside regular business hours.

    Read the original article on Business Insider
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