this post was submitted on 20 Aug 2024
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Newly appointed Starbucks CEO Brian Niccol won’t be required to relocate to the company’s headquarters in Seattle when he joins the coffee giant next month.

Instead, Starbucks says Niccol can live in his home in Newport Beach, California and commute to Starbucks’ head office 1,000 miles away on a corporate jet, according to the new CEO’s offer letter, which was made public in an SEC filing last week.

In his new role, Niccol, 50, will be paid a base salary of $1.6 million annually and has the opportunity to earn an annual cash bonus that could range from $3.6 million to $7.2 million depending on his performance. He will also be eligible for annual equity awards worth up to $23 million.

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[–] [email protected] 1 points 1 month ago

Kinda looks like Justin Trudeau

[–] [email protected] 1 points 1 month ago

It's almost like CEOs are largely irrelevant and could be replaced with a voting system

[–] [email protected] 4 points 1 month ago

I wouldn’t really care about him traveling, just make him take the responsibility for the produced emissions.

Tbh, everyone should take responsibility for their emissions. That includes billionaires, as well as working class. I believe it would be a correct approach to the environmental issue.

[–] [email protected] 1 points 1 month ago

The Hunger Games are revealing themselves folks.

[–] [email protected] 6 points 1 month ago

Would be a benefit for the environment if he'd supercrash.

[–] [email protected] 9 points 1 month ago* (last edited 1 month ago) (2 children)

Our system is insane. CEOs do the least amount of work and adds NO value. Why do they get more pay than someone who provides actual value? The people with the hardest jobs should have the highest pay.

[–] [email protected] 2 points 1 month ago

Yes, because leading a company is a trivial job every 3 year old can do.

[–] [email protected] 8 points 1 month ago (2 children)

ceo is literally the only job that can be fully replaced by the "ai" at the moment with no loss of performance whatsoever

[–] [email protected] 0 points 1 month ago* (last edited 1 month ago)

Capitalists in general can be replaced with AI and this is what freaks them out about it. AI makes having a secretary affordable now. An advertiser. Someone to draft rough legal documents. A brainstorming team. Etc.

[–] [email protected] 3 points 1 month ago (1 children)

So why there are still many CEOs? I think shareholders would welcome saving some money and using AI to run their company.

[–] [email protected] 1 points 1 month ago

maybe they just didn't get that idea yet... let's start ceoGPT Inc. and ride the AI craze to riches. I'll be the CEO.

[–] [email protected] 36 points 1 month ago

"if this is my commute, there's no reason for anyone to be remote"

[–] [email protected] 20 points 1 month ago
[–] [email protected] 29 points 1 month ago (3 children)

A few questions here:

  • Why the fuck does Starbucks have a corporate jet? I know they're a global company, but surely the CEO doesn't need to be abroad that often?
  • Why would a company subsidise travel for a CEO to the tune of (likely) as much as he would get paid in a salary? If I were to tell my employer "I want to supercommute it'll cost you $100k" I'd be laughed out. Hell, if I asked for $100 I'd probably be laughed out of the room...

Jets aren't even remotely cheap to run. They cost millions, they cost tens of thousands to operate, and that doesn't include personnel costs or costs regarding runway rental or the kind of shit a CEO would need while in the air.

[–] [email protected] 9 points 1 month ago

Also, how many million tonnes of CO2 will this dump into the high atmosphere every year?

[–] [email protected] 8 points 1 month ago

This is an unfortunately normal perk for c-level execs at major corporations. I’d be surprised if Starbucks only had one. He also most certainly has a driver (likely with military experience), and an apartment at the Ritz or similar in Seattle - all covered by the company.

[–] [email protected] 4 points 1 month ago (1 children)

For the reasons you mentioned I would hope this just means chartering flights. Owning a jet seems like the entire purpose is to flaunt how much money you can spend frivolously.

[–] [email protected] 3 points 1 month ago

Guess what C-level execs like to do?

There was a real estate group I was interviewing with a while ago that was not particularly big and they owned a jet. Obviously not a 737 or anything but Bombardier makes jets that are smaller. Still expensive to run but C-level execs have convinced idiot boards members (who also ride around on the keys) that they are totally necessary.

[–] [email protected] 48 points 1 month ago

I bet he won't be fired if his plane is delayed 20 minutes. Unlike a barista who got stuck in traffic.

[–] [email protected] 33 points 1 month ago* (last edited 1 month ago) (1 children)

We don't need to make up new words to normalize an obnoxious asshole exercising his wealth in a vulgar display of maleficence towards the environment.

[–] [email protected] 7 points 1 month ago (2 children)

10$ says Elon Muks will try to make SUPERCOMMUTE happen 🤪🫠🙄

[–] [email protected] 4 points 1 month ago

If you look at his flight records, motherfucker does not even supercommute. Many of his flights are simply across town. It's nuts how wasteful he is with flying.

[–] [email protected] 9 points 1 month ago (2 children)

No, he'll call it something much stupider like "Gigacommute"

[–] [email protected] 13 points 1 month ago
[–] [email protected] 13 points 1 month ago

This commute is just salary.. the CEO should at least be charged the cost of the travels as income and taxed accordingly.

[–] [email protected] 29 points 1 month ago

Psssst.... Starbucks... You're doing it wrong.

CARBON: 50 percent reduction in greenhouse gas emissions in Starbucks direct operations and value and supply chain.

https://www.starbucks.com/responsibility/planet/

[–] [email protected] 27 points 1 month ago

That isn't "supercommuting", it's "stupidcommuting".

[–] [email protected] 14 points 1 month ago* (last edited 1 month ago)

I'm surprised by this because what rich guy wouldn't want to shift his income from a state with one of the highest if not the highest tax rate at his level of income to a state with no income tax?

It doesn't matter that the income will be sourced in Washington. He lives in California, and by that, the franchise tax board is hyper aggressive in getting their cut.

Note that the equity awards mentioned are taxable as well.

[–] [email protected] 5 points 1 month ago

I guess rto is hitting everybody

[–] [email protected] 35 points 1 month ago (1 children)

Hmm i live 1000 miles from work, which do i do: literally use technology that works at the speed of light(internet) or burn a shitton of fuel and propel myself at high speeds towards the building where i work. I think the answer is obvious.

[–] [email protected] 1 points 1 month ago

Or third option, move. And there's always the default option, don't work there

[–] [email protected] 0 points 1 month ago

He needs to be tried as a war criminal

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