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.
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.
ceo is literally the only job that can be fully replaced by the “ai” at the moment with no loss of performance whatsoever
So why there are still many CEOs? I think shareholders would welcome saving some money and using AI to run their company.
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.
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.
Yes, because leading a company is a trivial job every 3 year old can do.