Starbucks CEO Brian Niccol will commute 1,000 miles from his home in Newport Beach, California, to the company's Seattle office via private jet.
Inside Michelin-Star Chef Massimo Bottura’s First Solo Restaurant in the U.S.on Thursday. He’ll use Starbucks’s corporate plane to make the 1,000-mile journey, according to his offer letter and contract, which the company filed with the Securities and Exchange Commission.“Remote work for C.E.O.s is one of the tools you can use to recruit a new C.E.O.
The documents add that Niccol will not be required to relocate to Seattle, but he will have to find permanent secondary housing in the city within three months of his start date. Starbucks’s current return-to-work policy sees corporate employees working from the office at least three days a week, according toThis sort of so-called super-commuting isn’t uncommon when it comes to corporate execs.
“Consumers seem to care about these things more these days than before. You’re buying a narrative. You’re not just buying the coffee,” Duchin toldDespite the hullabaloo surrounding Niccol’s commute, he does so far seem to be having a positive effect on the struggling coffee chain: Starbucks’s stock price rose an impressive 25 percent immediately upon the news of his hire, adding $20 million to the company’s market value, thenoted.
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Starbucks’ New CEO to Supercommute From California to SeattleStarbucks announced Tuesday that it will replace its CEO with the head of Chipotle, Brian Niccol, to lead the coffeeshop chain, as it seeks to revive sales. Niccol will take over the coffee giant next month. NBC News' Tom Costello has the story.
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