Starbucks has given new CEO Brian Niccol a private jet for a quick commute from his Southern California mansion to the company’s Seattle headquarters, according to a report.
The coffee chain has revealed the sweet deal at Nichols. Offer letter Last week, the move allowed the new president to set up a “mini remote office” at his home in Newport Beach without having to permanently move to the Emerald City nearly 1,000 miles away, CNN reported.
“Brian Nichol has proven to be one of the most effective leaders in our industry, delivering significant financial returns over many years,” a Starbucks spokesperson told CNN in a statement.
“We are confident in his experience and ability to serve as a leader of our global business and brand, delivering lasting and long-term value to our partners, customers and shareholders,” they added.
Under the contract, Nicole is entitled to use Starbucks’ aircraft for business and personal travel “up to a maximum of $250,000 per year, which amount will be based on the total additional cost to the company.”
A Starbucks spokesperson told The Washington Post earlier this month that Nichol will spend most of his time at the company’s Seattle headquarters — which means a lot of flights up and down the West Coast.
He could also spend thousands of miles in the air to visit some of the company’s 39,000 locations around the world.
“Brian will spend his home office and most of his time in the Seattle support center or visiting our partners and customers at our stores, roasters, roasting facilities and offices around the world,” a company representative told The Post.
The deal appears to conflict with Starbucks’ green initiatives — including the company’s broader efforts to switch to fully reusable, recyclable or compostable packaging by 2030 and reduce waste by 50%.
Commercial and personal flights cause about 800 million tons of carbon dioxide annually — or more than 2% of total global energy-related emissions, according to International Energy Agency.
Because of their limited capacity, private jets burn 10 times more fuel per passenger mile even though they account for only a tiny fraction of overall emissions, according to a study. a report By the Institute for Policy Studies.
On Friday, environmental activist group Greenpeace announced He called for a complete ban. On board private jets.
Nicole could earn at least $113 million as Starbucks’ new CEO.
His base salary is $1.6 million, and he received a $10 million signing bonus. He will also receive millions of dollars in additional cash based on the company’s annual performance, according to Starbucks data.
Nicole was lured away from leading Chipotle Mexican Grill earlier this month, replacing Lakshman Narasimhan who spent less than two years as Starbucks CEO.
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