• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

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

by August 16, 2024
written by August 16, 2024

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
0 comment
0
FacebookTwitterPinterestEmail

previous post
Walmart Stock Hits Record High on Earnings Beat
next post
RFK denies report that he asked for position in Harris cabinet

related articles

Customers sue sneaker company On over shoes that...

October 20, 2025

Giorgio Armani group names longtime executive Giuseppe Marsocci...

October 17, 2025

LendingTree founder and CEO Doug Lebda dies in...

October 15, 2025

UPS is ‘disposing of’ U.S.-bound packages over customs...

October 13, 2025

China outlines more controls on exports of rare...

October 10, 2025

Paramount acquires Bari Weiss’ The Free Press, naming...

October 7, 2025

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


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!

Latest News

  • Elon Musk’s political influence: a billionaire’s impact on European democracy

    January 7, 2025
  • Trump says he ‘probably took a bullet to the head’ due to Dem rhetoric

    September 11, 2024
  • Apple boosts U.S. investment plans with $500 billion pledge amid Trump tariff threat

    February 24, 2025
  • JFK’s grandson says there is ‘nothing heroic’ about Trump’s declassification order

    January 24, 2025
  • IMAX CEO expects $1.2 billion in box office receipts this year, the best in the company’s history

    February 22, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,506)
  • Investing (634)
  • Stock (941)

Latest Posts

  • As UK representative, I want to make our alliance with the US great again

    January 17, 2025
  • Hezbollah fires barrage of rockets into Israel after IDF targets Hezbollah command centers in Beirut

    November 25, 2024
  • Biden’s sweeping Hunter pardon at odds with longtime rhetoric on executive power: ‘No one is above the law’

    December 3, 2024

Recent Posts

  • Trump warns Israel strike on Iran ‘could happen’ amid Middle East evacuation, nuclear negotiations

    June 12, 2025
  • US, UK and Australia take next step in integrating AI defense systems

    August 11, 2024
  • ‘No such promise’: Johnson blasts Dem accusations he vowed to end ObamaCare as ‘dishonest’

    October 30, 2024

Editor’s Pick

  • Trump admin asks IRS to revoke Harvard’s tax-exempt status

    April 16, 2025
  • As inflation cools, Social Security could pay out a smaller COLA increase

    July 12, 2024
  • Trump says Wray resignation ‘great day for America,’ touts Kash Patel as ‘most qualified’ to lead FBI

    December 11, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock