(Bloomberg) — Starbucks Corp. (SBUX)’s newly appointed CEO Brian Niccol will not have to move to the company’s Seattle headquarters when he joins the company next month.
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The new CEO has agreed to commute to the coffee chain’s branch and travel as needed to do his job, the company said in a statement Wednesday. The executive’s current employer, Chipotle Mexican Grill Inc., is based in Newport Beach, Calif., where Starbucks will fund the establishment of a branch office, about 1,000 miles from Seattle.
The ability to work from home is becoming increasingly 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 bonus and an annual salary of $1.6 million.
Since the beginning of last year, Starbucks employees have been required to work in the office at least three days a week. This measure has sparked strong reactions from some employees.
Niccol’s primary office will be at the company’s Seattle headquarters, according to a Starbucks spokesperson. The company will also cover housing expenses for up to three months while he finds a second home in Seattle, the filing said.
If Niccol decides to move to the Seattle area, he will be eligible to receive reimbursement for certain relocation expenses. He will assume the CEO position on September 9.
(Updated with details on employee return-to-office policy.)
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