Bussiness
New Starbucks CEO to commute from California home to Seattle HQ
‘Barron’s Roundtable’ panelists offer their economic outlook and analyze Starbucks and Chipotle stock.
Starbucks is allowing its incoming CEO Brian Niccol to commute to work from his Southern California home – and he will have the option to fly on the company’s corporate jet.
The coffee chain said in a filing with the Securities and Exchange Commission that Niccol “will not be required to relocate” to Seattle and has agreed 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.”
Chief Executive Brian Niccol in New York City on June 10, 2015. (Photo by Robin Marchant/Getty Images / Getty Images)
Niccol, the former chief executive at Chipotle, will take over as Starbucks CEO and chairman on Sept. 9, replacing Laxman Narasimhan.
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When he steps into the job, he will be eligible to use Starbucks’ plane to “travel between your city of residence and the Company’s headquarters” in Seattle, Washington, the filing said.
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