Starbucks CEO Brian Niccol will commute to the company’s headquarters in Seattle thrice a week. According to the offer letter disclosed in a SEC filing, the newly appointed CEO will fly 1600km from Newport Beach, California to Seattle. Commenting on the news, Shark Tank judge Anupam Mittal said “What happened to leading by example?”.
Recently, Starbucks ousted its former Chief Executive Office Laxman Narasimhan, replacing him with Chipotle CEO Brian Niccol.The sacking came amidst the beverage chain’s flagging sales. As revealed in the SEC filing, Niccol will be paid a salary of $1.6million annually in addition to cash bonus ranging from $3.6 million to $7.2 million, depending on the performance.
Mittal took to microblogging platform X, formerly known as Twitter to share his views.
Recently, Starbucks ousted its former Chief Executive Office Laxman Narasimhan, replacing him with Chipotle CEO Brian Niccol.The sacking came amidst the beverage chain’s flagging sales. As revealed in the SEC filing, Niccol will be paid a salary of $1.6million annually in addition to cash bonus ranging from $3.6 million to $7.2 million, depending on the performance.
Mittal took to microblogging platform X, formerly known as Twitter to share his views.
Here’s the post shared by Anupam Mittal
This is not the first time that Mittal has talked about Starbucks online. Commenting on the appointment of Brian earlier this month, he said “Starbucks continued value erosion is inevitable unless they go back to their roots or reinvent their raison d’etre. Right now they are less of a coffee shop and more of a dessert store with criminal levels of disguised sugar making people sick. Probably more toxic than tobacco cos.”
“But good move bringing in Brian,” he then said.
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