Brian Niccol not required to relocate full time to Seattle headquarters
Newly appointed Starbucks CEO Brian Niccol will not be required to relocate to the company's headquarters in Seattle, Washington, for his upcoming role in the coffee chain.
Niccol will take on the role on September 9 in the wake of former CEO Laxman Narasimhan's departure in August.
In Starbucks' offer letter to Niccol, the company said the upcoming CEO "will not be required to relocate to the company's headquarters (currently in Seattle, Washington)."
"You agree to commute from your residence to the company's headquarters (and engage in other business travel) as is required to perform your duties and responsibilities," read the offer letter, which was made public in a submission to the Securities and Exchange Commission.
Niccol will also be getting a small remote office near his residence in Newport Brach, California, following his start date in September.
"The company will employ an assistant of your choosing for such office, subject to the reasonable consent of the Company. This office location will be maintained at the expense of the company," it read.
Should Niccol decide to relocate in Seattle for his employment, Starbucks said he will be eligible for reimbursement under the company's relocation policy.
A Starbucks spokesperson said Niccol is still expected to come to the company's Seattle office at least three days a week as part of the company's hybrid work policies, CNBC reported.
"Brian's primary office and a majority of his time will be spent in our Seattle Support Centre or out visiting partners and customers in our stores, roasteries, roasting facilities and offices around the world," the spokesperson told CNBC.
"His schedule will exceed the hybrid work guidelines and workplace expectations we have for all partners."
Meanwhile, the offer also laid out that Niccol will be getting a base salary of $1.6 million annually, with the possibility of annual cash bonus between 225% and 450% of his base salary depending on the company's performance.
Niccol comes from restaurant company Chipotle, which also relocated its headquarters to Newport Beach from Denver, Colorado, in 2018 months after Niccol stepped up into the CEO position.
