Your Own Liberty - Investing and Stock News
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Your Own Liberty - Investing and Stock News
No Result
View All Result
Home Stock

Starbucks is giving incoming CEO Brian Niccol $85 million in cash and stock as he departs Chipotle

by
August 16, 2024
in Stock
0
Starbucks is giving incoming CEO Brian Niccol $85 million in cash and stock as he departs Chipotle

Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill.

Niccol officially takes the reins at the embattled coffee chain on Sept. 9. As CEO, he’ll be tasked with turning around the company’s slumping sales, improving customers’ experience inside stores and figuring out what to do with its struggling China business. It’s a big undertaking — for which he will be well compensated.

Starbucks disclosed Niccol’s incoming pay plan in a filing on Wednesday. The majority of his compensation package is made up of equity that vests over time, and is based on company performance targets and other metrics. In his first year, his pay package could be worth as much as $116.8 million if the company hits its targets and it fully vests.

Niccol will be paid a base salary of $1.6 million annually, with the opportunity to earn up to $7.2 million more in cash. He’ll also be eligible for annual equity awards worth up to $23 million.

And for leaving Chipotle, Niccol will receive a $10 million cash bonus and $75 million in equity to make up for what he’s forfeiting with his departure from the burrito chain. The equity will vest over a three-to-four-year period, based on company performance and Niccol’s tenure.

“Brian Niccol has proven himself to be one of the most effective leaders in our industry, generating significant financial returns over many years,” Starbucks said in a statement. “His compensation at Starbucks is tied directly to the company’s performance and the shared success of all our stakeholders. We’re confident in his ability to deliver long-term, enduring value for our partners, customers and shareholders.”

At Chipotle, Niccol collected a $1.3 million base salary last year, with a total compensation of $22.5 million. Stock awards and options accounted for the bulk of his earnings, but he also took home a cash bonus of $5.2 million.

During his tenure at Chipotle, the stock climbed 773%, fattening the value of his overall compensation.

Niccol’s pay package is also more generous than that of his ousted predecessor, Laxman Narasimhan. His base salary was $1.3 million, with possible cash bonuses of up to $5.85 million and equity awards of $13.6 million, according to filings. In fiscal 2023, Narasimhan’s compensation was valued at $14.6 million, largely from stock awards.

Unlike Narasimhan, who was previously based in the U.K., Niccol won’t be required to relocate to Starbucks’ headquarters in Seattle.

— CNBC’s Kate Rogers contributed to this report

This post appeared first on NBC NEWS
Previous Post

Americans’ first impressions of Walz are positive, negative for Vance

Next Post

The effects of a graying America seep into the 2024 campaign

Next Post
The effects of a graying America seep into the 2024 campaign

The effects of a graying America seep into the 2024 campaign

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    Why Trump’s iPhone tariff threat might not be enough to bring production to the U.S.

    Why Trump’s iPhone tariff threat might not be enough to bring production to the U.S.

    May 31, 2025
    Trump tariff plan faces uncertain future as court battles intensify

    Trump tariff plan faces uncertain future as court battles intensify

    May 31, 2025
    UK to ban sale of disposable vapes in response to soaring waste and safety risks

    UK to ban sale of disposable vapes in response to soaring waste and safety risks

    May 31, 2025

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Latest News

    • Why Trump’s iPhone tariff threat might not be enough to bring production to the U.S.
    • Trump tariff plan faces uncertain future as court battles intensify
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 yourownliberty.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 yourownliberty.com | All Rights Reserved