Starbucks’ new CEO drinks up to 4 cups of coffee a day
Starbucks’ new CEO will receive a salary of $113 million – and probably lots of free coffee.
The coffee giant named Chipotle CEO Brian Niccol as its new CEO on Tuesday, officially starting on September 9. While he won’t have to move to Seattle for his new job, he has agreed to commute from his home in Newport Beach, California, if necessary.
Niccol’s offer includes a $10 million signing bonus and stock awards totaling $75 million. He will also be eligible for additional annual stock awards valued at up to $23 million beginning in fiscal year 2025. All of this is in addition to his $1.6 million annual base salary and an annual cash bonus that will range from $3.6 million to $7.2 million depending on Niccol’s performance.
In addition, he will enjoy private trips on the company’s corporate jet worth up to $250,000.
Before he left his burrito bowl empire, Assets met with Niccol in May at a Chipotle restaurant in New York City to learn how he spends his day running a company that brought in nearly $3 billion in revenue last quarter.
He also revealed his favorite order at Chipotle: a bowl of chicken with white rice, fajita veggies, pico de gallo, and a bit of cheese. To complement his meal, he orders a barbacoa quesadilla and chips and guacamole on the side.
“This is probably a bit too much food for my age,” said 50-year-old Niccol. “But you know, it’s hard to resist.”
The new CEO of the largest coffee company in the world Fortune 500Niccol is no stranger to using caffeine as a source of energy for his workday. He said Assets He starts his morning by enjoying his first cup of coffee of the day while watching the Wall Street Journal and tune in to CNBCs Squawk box.
“I usually make myself an Americano in the morning,” he said. “I probably drink three or four cups of coffee; one or two in the morning and then one or two in the afternoon.”
Niccol told Assets Espresso is also close to his heart: “Always hot and, if possible, I like to eat a biscuit with it.”
Starbucks CEOs’ coffee orders
Niccol’s coffee order is similar to that of his Starbucks predecessors.
Former CEO Kevin Johnson, who first joined the coffee company in 2009, served as CEO from 2017 to 2022 before retiring. In an interview with Harvard Business ReviewJohnson said he often goes to Starbucks in the morning to meet his caffeine needs.
“I order a triple espresso with just a shot of hot water,” he said. “So technically it’s an Americano, but mostly espresso.”
After catching up on the news, checking his email and reaching Starbucks headquarters in Seattle, Johnson enjoyed his second cup of the day: a French press. Since there’s no shortage of fresh coffee in the office, he said, he and his team start every meeting with the ritual of a coffee tasting.
“I might try three or four coffees during the day before a meeting,” he told the publication.
His successor was a familiar face at Starbucks headquarters and at the office coffee bar. 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 his “hands down” favorite coffee blend: Aged Sumatra.
“Aged for three to five years in a warehouse in Singapore, then shipped green to our Kent, Washington facility and roasted to perfection,” he wrote. “The result is a stunning cup of coffee.”
Schultz’s successor in 2023 opted for a more hands-on approach to coffee immersion. After experimenting with making and taste-testing many Starbucks drinks while working with baristas during the first six months of his tenure as CEO, former Starbucks CEO Laxman Narasimhan explained his preference for Assets in October.
“My favorite drink at Starbucks is the Doppio Espresso Macchiato with a little hot milk on the side,” he said, adding that he prefers skim milk.
Narasimhan, who grew up in Pune, India, said the combination helps recreate the taste of South Indian coffee in the U.S. However, unlike his fellow CEOs, Narasimhan said: Fortune The Leadership Next podcast says he generally avoids coffee but sometimes opts for tea.
“I stop at two o’clock and usually don’t drink more than four,” he said. “That’s two doppios, four shots.”
