New Starbucks CEO Brian Niccol's net worth & compensation package
Starbucks recruited Brian Niccol from Chipotle to turn around sluggish sales and declining profits. Here's how his pay package is boosting his net worth.
Starbucks grew from a small, local business in Seattle's Pike Place market into an international behemoth that has change into synonymous with brand new coffee. Every once in your time, though, a a success company faces a stunt in its growth and desires outside help to right itself.
Starbucks (SBUX) lured Brian Niccol from Chipotle Mexican Grill (CMG) to be its next chief executive officer to help turn around declining sales and attract more customers to its stores to purchase the emblem's iconic pumpkin spice lattes and breakfast favorites clone of the sausage, cheddar, and egg sandwich.
This fashion of recruitment is lucrative, and it be without a doubt set to raise Niccol’s net worth.
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Who's Brian Niccol?
Brian Niccol was born in 1974 in Orange County, California, and received his bachelor’s degree in applied science and engineering management at Miami University (of Ohio) in 1996. He later received an MBA from the University of Chicago Booth School of Business.
After graduating from Miami, Niccol served in a sort of positions in brand management at Procter & Gamble (PG) for nearly a decade. In 2005, he served in a sort of executive positions at Pizza Hut, a unit of Yum! Brands.
What makes Niccol a turnaround specialist?
In 2011, Niccol was promoted to chief marketing and innovation officer at the other Yum! Brands subsidiary, Taco Bell. Two years later, he became its president and, from 2015 to 2018, its chief executive officer. He's credited with revitalizing Taco Bell’s brand by appealing to younger customers and introducing popular menu items equivalent to the Doritos Locos Tacos.
In March 2018, Niccol was hired by Chipotle to be its CEO. There, he oversaw a transformation of the burrito maker at a time when it faced public scrutiny over the quality of its food. One day of his tenure, the corporate’s stock price rose almost 800% as revenue nearly doubled and profit jumped almost sevenfold.
In August 2024, Starbucks hired Niccol to guide an identical transformation at the sphere’s largest coffee chain. The Seattle-based company cited his give attention to Chipotle’s people and culture, brand, menu innovation, operational excellence, and digital transformation for setting new standards within the industry.
He takes over from Laxman Narasimhan, whose two-year tenure at Starbucks was marked by declining profit margins, falling same-store sales, and a drop in share prices. Robin Marchant/Getty Images
What is Brian Niccol’s net worth?
Niccol is a multimillionaire, and his wealth largely comes from the income he's earned within the C-Suite, specifically at some point soon of his time serving in executive positions at Chipotle and Yum! Brands (YUM) , along with what he's expected to receive as Starbucks’ CEO.
In line with most sources, Niccol's wealth is estimated to be no under $sixty seven million as he joins Starbucks.
As of April 2024, Niccol owned more than 22,000 shares of Chipotle, valued at more than $1 million. He sold tens of millions of bucks in Chipotle stock over the past few years.
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How loads did Niccol make as Chipotle CEO?
In 2023, he received a base salary of $1.3 million and stock options and bonuses that expanded his total compensation to $22.5 million.
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How loads does Niccol make as Starbucks CEO?
When Niccol takes over as CEO of Starbucks on Sept. 9, 2024, he's in a position to receive an annual salary of $1.6 million. He received a signing bonus of $10 million and was given $seventy 5 million in stock options to atone for his forfeiture of Chipotle equity.
For meeting Starbucks’ incentives, Niccol could make almost $9 million.
How does Brian Niccol spend his money?
Niccol is a giant alumni supporter of Miami University. In early 2024, he and his wife, also an alumnae, gifted the college $2 million for the boys’s basketball team.
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