New Starbucks CEO Biran Niccol is Under attack He planned to travel 1,600 kilometers by private jet from his home in Newport Beach, California, to the company’s headquarters in Seattle.
Nicol accepted the CEO position on the condition that he “would not need to relocate to the company’s headquarters” but agreed to commute from his residence to the headquarters in Washington state “in order to perform his duties.” [his] According to the BBC, he was allowed to use the company’s aircraft for “business travel” and expressly for “travel to and from [his] Starbucks also promised to set up a small remote office in Newport Beach for Nicole to use when she works in California.
The company’s hybrid work policy requires employees to be in the office at least three days a week; Starbucks has not yet confirmed whether the same rule applies to Nicole, or whether the Newport Beach office meets this requirement. A statement from the company claims that Nicole’s “primary office and the majority of her time” will be spent in Seattle, or visiting Starbucks facilities around the world.
[See more: New research reveals key risks of digital work]
The incident did not win Nicol favor with the public, who pointed out the disconnect between Starbucks’ public stance on environmental issues and this unsustainable commuting method. Others were more concerned about his compensation, wondering aloud why CEO pay was never mentioned in discussions about rising prices. His base salary was $1.6 million per year, but included performance bonuses of up to $7.2 million and up to $23 million in Starbucks stock per year.
Starbucks announced earlier this month that Nicol would replace current CEO Laxman Narasimhan in an effort to boost sagging sales. Among The backlash to price increases and boycotts sparked by Israel’s war with Hamas. Former executive Howard Schultz said Nicole was “the leader Starbucks needed at a critical time in its history.”
Niccol gained that confidence during his tenure at Mexican fast-food chain Chipotle, where he turned around a company that had been struggling after multiple outbreaks of food poisoning. Under his leadership, sales doubled and the stock price soared from less than $7 per share to more than $50. Chipotle also opened nearly 1,000 new stores and adopted new technology to automate food preparation. The chain was seen as a ray of hope as the restaurant industry continued to struggle due to the pandemic and reduced customer spending.
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