(Bloomberg) -- Newly appointed Starbucks Corp. Chief Executive Officer Brian Niccol won’t be required to relocate to the company’s headquarters in Seattle when he joins the company next month.
The incoming CEO agreed to commute to the coffee chain’s base and travel as needed to do his job, the company said in a filing Wednesday. The executive’s current employer, Chipotle Mexican Grill Inc., is located in Newport Beach, California. That’s where Starbucks will pay for a remote office to be set up about 1,000 miles from Seattle.
Being allowed to work remotely is becoming more common for CEOs and was part of the package Starbucks used to recruit Niccol to the struggling restaurant chain. His compensation includes a $10 million cash signing bonus and a $1.6 million annual salary.
White-collar employees at Starbucks were required at the beginning of last year to return to the office at least three days a week, a move that sparked backlash from some workers.
Niccol’s primary office will be in the company’s Seattle headquarters, according to a Starbucks spokesperson. The company will also pay for housing costs for as many as three months while he finds secondary accommodations in Seattle, according to the filing.
If Niccol decides to move to the Seattle area, he’ll be eligible to get reimbursed for certain relocation expenses. He’ll take over the CEO job on Sept. 9.
(Updates with details on return-to-office policy for employees.)
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