Starbucks Lures Chipotle CEO Brian Niccol With $85 Million Package. Can He Turn the Struggling Coffee Company Around?
Starbucks is paying Brian Niccol $10 million in cash and $75 million in equity awards as compensation for leaving his previous role as CEO of Chipotle to become the new CEO of Starbucks. Niccol will receive a base salary of over $1 million annually from Starbucks, with the opportunity to earn early $7 million more in cash bonuses. During his tenure at Chipotle, the stock price increased by over 700%, increasing the value of his compensation. As the new Starbucks CEO, Niccol will be tasked with turning around the company's slumping sales and improving customers' in-store experience.
Category
đź—ž
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:02Starbucks is paying Brian Nickell $10 million in cash and $75 million in equity awards as
00:08compensation for leaving his previous role as CEO of Chipotle to become the new CEO of
00:13Starbucks.
00:14Nickell will receive a base salary of over $1 million annually from Starbucks, with the
00:18opportunity to earn nearly $7 million more in cash bonuses.
00:23During his tenure at Chipotle, the stock price increased by over 700%, increasing the value
00:28of his compensation.
00:29As the new Starbucks CEO, Nickell will be tasked with turning around the company's slumping
00:33sales and improving customers' in-store experience.
00:36For all things money, visit Benzinga.com.