Starbucks CEO Brian Niccol was awarded approximately $96 million in total compensation after just four months on the job — quickly becoming one of the highest-paid executives in corporate America.
His substantial pay package, which was detailed in a recent securities filing with the SEC, includes buyouts of Chipotle Mexican Grill shares awarded during his tenure as CEO of the burrito chain.
Despite working only a few weeks during Starbucks’ fiscal year ending September 29, Niccol received $61,538 in salary, a $5 million signing bonus and $90 million in stock awards, according to filings cited by the Wall Street Journal.
Meanwhile, Starbucks under Niccol is implementing changes to enhance the in-store experience, including offering ceramic mugs for dine-in customers, enforcing stricter policies on restrooms and free water cups and reviving the condiment bar with unlimited coffee refills.
As investors await the company’s earnings report, analysts suggest these changes reflect a broader strategy to improve customer experience and perception amid affordability concerns.
Much of Niccol’s stock compensation reflects forfeited Chipotle shares, which Starbucks compensated him for as part of his transition.
The package also consists of restricted stock units that vest over time and performance-based awards.
The pay disparity has drawn attention, particularly given Starbucks’ history of sizable CEO compensation.
