Starbucks' new CEO will travel 1600 km by plane every day to reach the office, revealed in the offer letter

Starbucks' new CEO Brian Nicol, who is going to take over next month, will travel a long distance to reach the office every day. Nicol, who lives in California, will travel 1,600 km every day by corporate jet to reach the company's headquarters in Seattle. This has been mentioned in his offer letter.

According to the offer letter, Nicol will be expected to work from the Seattle office at least three days a week. He has been given this facility as per Starbucks' hybrid work policy, which is in effect from 2023.

Nicole will receive a base salary of $1.6 million per annum, besides a cash bonus ranging from $3.6 million to $7.2 million subject to his performance. He will also get an annual equity incentive award of up to $23 million.

This will not be the first time Nicole covers such a long distance to get to the office. He did so in 2018 while serving as CEO at Chipotle, where he was able to secure a similar facility through negotiations.

Chipotle was still headquartered in Colorado, as far away as 15 minutes from Nicole's last workplace. However, three months after he was appointed CEO, the Mexican fast-food chain moved its headquarters from Denver to California.

"Brian's main office and most of his time will be spent at our Seattle support center or in our stores, roastery, roasting facilities, and offices around the world meeting with partners and customers," the spokesperson said. His schedule will more than likely be in accordance with the hybrid work guidelines and workplace expectations we set for all partners.

Such relaxed terms of employment are common for high-ranking executives who wield immense bargaining power as compared to the average employee. Victoria's Secret made Hilary Super of singer Rihanna's lingerie brand Fenty x Savage its new CEO with similar exemption terms.

She works from the company's New York City-based office rather than the company's headquarters near Columbus, Ohio. Not all CEOs agree to this though; Amazon's Andy Jassy and JPMorgan Chase's Jamie Dimon will reportedly make a strong push for bringing back the work-from-office policy. The reason behind this unusual facility Nicole got at Starbucks is the falling sales of the coffee giant.

Sales have slid this year under the present CEO, Laxman Narasimhan, in its two biggest markets: the US and China. With his strong history in turning around troubled companies, Niccol is a star candidate for this top job. Its stock reportedly surged 773% when he was CEO at Chipotle.