Last week, Starbucks shocked corporate America by both announcing Brian Niccol as its new CEO and slapping a staggering $113m pay packet on his soon-to-be desk.
But the eye-watering compensation package is not the only part of the sudden leadership change to raise eyebrows.
Alongside details including an annual salary of $1.6million, $74million in stock options, $23million in share-based bonuses, $3.6million in cash bonuses, and a $10million sign-on bonus, Niccol’s offer letter also contained a provision that freed him from relocating to its main office in Seattle.
“During your employment with the company, you will not be required to relocate to the company’s headquarters … 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.”
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