Newly appointed Starbucks CEO Brian Niccol won’t be required to relocate to the company’s headquarters in Seattle when he joins the coffee giant next month.
Instead, Starbucks says Niccol can live in his home in Newport Beach, California and commute to Starbucks’ head office 1,000 miles away on a corporate jet, according to the new CEO’s offer letter, which was made public in an SEC filing last week.
In his new role, Niccol, 50, will be paid a base salary of $1.6 million annually and has the opportunity to earn an annual cash bonus that could range from $3.6 million to $7.2 million depending on his performance. He will also be eligible for annual equity awards worth up to $23 million.
CEOs only need to know one thing and it has fuckall to do with competency.
All a CEO needs to have is access to capital. That’s it. He just needs to know all the rich people. That’s it. In our society, where profit is sanctified and the quality of your life is less important than their toilet paper, where money and production is fucking WORSHIPPED, of course that’s all you’d need to know.