Starbucks has given new CEO Brian Niccol a private company jet to make the super-fast trip from his Southern California mansion to the company’s Seattle headquarters, according to a report.
Coffee chain reveals amazing deal at Nicole Offer letter Last week, which allowed the new president to have a “small remote office” at his home in Newport Beach without having to move permanently 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, and deliver long-term and lasting value to our partners, customers and shareholders,” they added.
Under the contract, Nicole is eligible to use Starbucks’ corporate jet for business and personal travel “up to $250,000 per year, which amount will be based on the total incremental cost to the company.”
Nicole will spend most of her time at the company’s Seattle headquarters, a Starbucks spokesperson told The Post earlier this month — which means a lot of flights up and down the West Coast.
He can 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 main office and most of his time in our 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 agreement appears to conflict with Starbucks’ green initiatives — including the company’s company-wide efforts to transition to fully reusable, recyclable or compostable packaging by 2030 and reduce waste by 50%.
Air 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 a UN report. International Energy Agency.
Given their limited capacity, private jets burn 10 times more fuel per passenger mile, even though they account for only a small fraction of total emissions, according to a recent study. a report By the Institute for Policy Studies.
On Friday, environmental activist group Greenpeace He called for a comprehensive ban. On private jets.
Nicole could earn at least $113 million as Starbucks’ new CEO.
He has a base salary of $1.6 million and 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 a Starbucks filing.
Nicole was lured from the helm of Chipotle Mexican Grill earlier this month, replacing Laxman Narasimhan, who spent less than two years as Starbucks CEO.
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