Starbucks has given its new CEO Brian Niccol a corporate jet to make the super commute from his southern California mansion to the company’s Seattle headquarters, according to a report.
The coffee chain revealed the sweet deal in Niccol’s offer letter last week, which allows the new boss a “small remote office” at his Newport Beach home without having to permanently relocate to the Emerald City some 1,000 away, CNN reported.
“Brian Niccol has proven himself to be one of the most effective leaders in our industry, generating significant financial returns over many years,” a Starbucks spokesperson told CNN in a statement.
“We’re confident in his experience and ability to serve as the leader of our global business and brand, delivering long-term, enduring value for our partners, customers and shareholders,” they added.
Per the contract, Niccol is eligible to use Starbucks’ company plane for business related and personal travel “up to a maximum of $250,000 per year which amount will be based on the aggregate incremental cost to the Company.”
Nicoll will spend a majority of the time at the company’s Seattle headquarters, a Starbucks spokesperson told The Post earlier this month — which means plenty of flights up and down the west coast.
He could also spend thousands of miles in the air visiting some of the company’s 39,000 locations across the globe.
“Brian’s primary office and a majority of his time will be spent in our Seattle Support Center or our visiting partners and customers in our stores, roasteries, roasting facilities and offices around the world,” a company rep told The Post.
The agreement seems to fly in the face of Starbucks’ green initiatives — including a company-wide effort to move entirely to reusable, recyclable or compostable packaging by 2030 and to reduce waste by 50%.
Jet travel, both commercial and personal, accounts for about 800 million tons of carbon dioxide annually — or more than 2% of total global energy-related emissions, according to the International Energy Agency.
Due to their limited capacity, private jets burn 10 times more fuel per passenger mile traveled despite accounting for only a fraction of overall emissions, according to a report by the Institute for Policy Studies.
On Friday, environmental activist group Greenpeace called for a complete ban on private jets.
Niccol could earn at least $113 million as the new CEO of Starbucks.
He has a $1.6 million base salary and received a $10 million signing bonus. He will also rake in millions in additional cash depending on the company’s yearly performance, according to Starbucks’ filing.
Niccol was lured from the helm of Chipotle Mexican Grill earlier this month, replacing Laxman Narasimhan who spent less than two years at Starbucks’ CEO.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
