New Starbucks CEO Brian Niccol will be assuming his role next month, but he won't be permanently relocating to the company's Seattle headquarters. Instead, Niccol will commute weekly from his home in Newport Beach, California, utilizing a corporate jet provided by Starbucks for his travels.
Despite concerns raised about the environmental impact of private jet travel, Starbucks stands by its decision, citing Niccol's proven leadership abilities and track record of delivering financial returns in the industry. The company expresses confidence in Niccol's capability to lead Starbucks globally and create lasting value for stakeholders.
Private jets, while more fuel-efficient than commercial jets, still contribute significantly to carbon emissions. Greenpeace has criticized the arrangement, calling it 'unacceptable' and advocating for a ban on private jets. The Institute for Policy Studies reports that private jets consume about 10 times more fuel per passenger mile traveled compared to commercial jets.
Niccol's role as CEO will involve frequent travel to oversee Starbucks' vast operation of 39,000 stores and 450,000 employees worldwide. Starbucks recently announced a policy requiring corporate employees to work from the office three days a week, with specific in-office days for those near headquarters.
Niccol's compensation package includes a $1.6 million base salary, a $10 million signing bonus, and potential additional earnings based on the company's performance. He is taking over from the previous CEO, Laxman Narasimhan, with the task of revitalizing Starbucks and replicating his successful leadership at Chipotle.
