Brian Niccol’s first full fiscal year as chief executive of Starbucks was a lucrative one.
Niccol, who took over as CEO of the coffee shop giant in 2024, was given a compensation package of $31 million during the company’s last fiscal year, according to a federal securities filing this week.
The bulk of that package, nearly $20 million, was in the form of stock awards, which are common among publicly traded companies that want their chief executives aligned with the needs of shareholders.
Niccol’s compensation also included a $5 million bonus, part of a $10 million incentive Starbucks used to lure him from Chipotle. Niccol also received $2 million in incentive compensation.
His salary, at $1.6 million, accounts for only 5% of his total compensation last year.
The value of some of the other compensation Niccol received last year exceeded that salary.
Starbucks listed security services, worth about $1.1 million, among his pay package. Use of the company aircraft was worth about $1 million. Niccol also received about $371,536 worth of temporary housing expenses, according to the filing.
The compensation package will likely be one of the richest in the restaurant industry. Outside of stock-heavy incentive packages given to new CEOs like Niccol or executives at newly-public companies, no industry chief executive has topped the $30 million mark since the pandemic.
Niccol was brought to Starbucks to lift the company out of a difficult sales slump. The company has overhauled marketing and in-store service, started remodeling locations and restructured the management team in the months since then.
The Seattle-based company on Wednesday reported same-store sales of 4% last quarter, including 3% traffic, its best performance in two years.
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