close
close
migores1

The new CEO of Starbucks drinks up to 4 cups of coffee a day

Starbucks’ new CEO gets a $113 million payday and probably a lot of free coffee.

The coffee giant on Tuesday named Chipotle CEO Brian Niccol as its new chief executive, with an official start date of September 9. While he won’t be required to move to Seattle for the new gig, he has agreed to commute from his home in Newport Beach, Calif., when needed.

Niccol’s offer includes a $10 million sign-on bonus and equity awards totaling $75 million. Beginning in fiscal 2025, he will also be eligible to receive additional annual equity awards of up to $23 million. All of that is in addition to his annual base salary of $1.6 million and an annual cash bonus that ranges from $3.6 million to $7.2 million, depending on Niccol’s performance.

In addition, he will enjoy up to $250,000 in personal travel on the company’s corporate jet.

Before leaving his burrito-bowl empire, wealth sat down with Niccol in May at a Chipotle restaurant in New York to find out how he spends his day running a company that brought in nearly $3 billion in revenue last quarter.

He also revealed Chipotle’s order: a chicken bowl with white rice, fajita veggies, pico de gallo and a little cheese. To round out his meal, he said he orders a barbacoa quesadilla, plus chips and guacamole.

“It’s probably a bit too much food for my age,” said Niccol, 50. “But you know, it’s hard to resist.”

Now the future CEO of the largest coffee company in Fortune 500Niccol is no stranger to prioritizing caffeine to fuel his work days. he said wealth he starts his mornings by enjoying his first cup of joe of the day while reading Wall Street Journal and tuning in for CNBC Squawk Box.

“I usually make an Americano in the morning,” he said. “I probably have three or four cups of coffee; one or two in the morning and then one or two in the afternoon.”

Niccol said wealth he’s also fond of espresso: “Always hot, and if I can, I like to have a cake with it.”

Starbucks CEO’s coffee orders

Niccol’s coffee order resembles that of its Starbucks predecessors.

Former CEO Kevin Johnson, who first joined the coffee company in 2009, served as chief executive from 2017 to 2022 before retiring. In a 2019 interview with Harvard Business ReviewJohnson said he often frequented the local Starbucks location to get his morning caffeine fix.

“I order a triple espresso with just a splash of hot water,” he said. “So I guess it’s technically an American, but it’s mostly espresso.”

After catching up on the news, checking his email and arriving at Starbucks headquarters in Seattle, Johnson enjoyed his second cup of the day: a French press. Not without fresh drinks at the office, he said he and his team also started each meeting with the ritual of a coffee tasting.

“I might have three or four coffees over the course of a day before a meeting,” he told the publication.

His successor was a familiar face around Starbucks headquarters and the office coffee shop. Howard Schutlz came out of retirement to serve as interim CEO from 2022 to 2023, after previously leading the company from 1986 to 2000 and from 2008 to 2017. In a 2008 blog post, Schultz revealed the shuffle his hands-down favorite coffee: Aged Sumatra. .

“Aged for three to five years in a warehouse in Singapore, then shipped as green coffee to our factory in Kent, Washington and roasted to perfection,” he wrote. “The result is an amazing cup of coffee.”

Schultz’s replacement in 2023 opted for a more hands-on approach to coffee immersion. After experimenting with making and taste-testing many Starbucks drinks while working alongside baristas during the first six months of his tenure as CEO, former Starbucks boss Laxman Narasimhan detailed his preference for wealth in October.

“My favorite Starbucks drink is the Doppio Espresso Macchiato with some hot milk on the side,” he said, adding that he prefers skim milk.

Narasimhan, who grew up in Pune, India, said the combination helps reproduce the taste of South Indian coffee in the US. However, unlike his fellow CEOs, Narasimhan said. Of luck Leadership Next podcast that he generally avoids drinking coffee, but may opt for tea.

“I stop at two o’clock and normally I don’t have more than four,” he said. “That’s two doubles, four strikes.”

Related Articles

Back to top button