Here's how much the new Starbucks CEO could make in his first year

[Yo_Mama_Been_Loggin]

Laxman Narasimhan is in for a pretty steep pay raise.

Last week, Starbucks Corp. (Nasdaq: SBUX) announced its selection of Nararsimhan, 55, to succeed the Seattle coffee giant's architect, Howard Schultz, who has been serving as interim CEO since April.

In his first year on the job, Narasimhan could receive up to nearly $31 million in compensation, including a signing bonus, according to a filing with the Securities and Exchange Commission. As CEO of Reckitt Benckiser, Narasimhan's compensation at the British conglomerate was 5.97 million pounds in 2021, according to its annual report, or roughly $8.2 million at last year's average exchange rate.

He will relocate to Seattle from London when he joins Starbucks in October and take over for Schultz in April 2023 following a monthslong mentorship process.

https://www.bizjournals.com/seattle/news/2022/09/08/starbucks-ceo-compensation.html

Guess that's why Starbucks coffee is overpriced.

[CrispyQ]

1. That's obscene.

And yet Starbucks will fire low wage employees for trying to start a union.

[crickets]

4. 👆👆

[DFW]

2. If only Starbucks had asked around

I would have moved to Seattle for half that. I'd even start drinking coffee if I had to.

[unweird]

3. And I'll carry your bags for a 15% gratuity

Both bags!

[DFW]

6. BOTH bags? Talk about an offer I can't refuse! n/t

[unweird]

10. Dang, shoulda held out for a schnitzel and ein halbe

Teach me to negotiate better next time.

[DFW]

11. You have time to rethink your negotiating strategy

Unless you plan on being here in Düsseldorf over the weekend

[unweird]

13. I wish

I enjoyed my 3 years in Germany many decades ago.

[DFW]

14. I married one of the friendlier natives

So my stay here has been a little longer.

[leftieNanner]

5. That money won't come out of my pocket

I don't buy their crappy coffee.

[doc03]

7. He won't get much from me. I stop in for an Ice tea

or a brewed coffee about twice a year. I saw one if their employees a couple weeks ago and asked about the union, she was dead set against it. See here they make about twice Ohio's minimum wage with benefits.

[ProfessorGAC]

8. He Left A Good Company To Work For

Reckitt Benckiser.
I know several people that worked for them in product development, mostly formulators.
They all liked their jobs & work environment.
I guess a $23 million raise will increase one's willingness to move.

[panader0]

9. I've never had anything from Starbucks.

For the price of one of their "elite" cups of coffee (you have to drink it with your pinkie up),
I can buy two weeks worth of regular coffee and have three cups a day. I remember designer jeans.
Four times as much as Wranglers. Some people think that you can't be cool without the most
expensive whatever. How about ladies hand bags? Louis Vitton priced from $2000 to $5400.
To carry your makeup?

[DFW]

12. I'll admit that I have

In the main train station in Sprout City, when I miss my train back to D-land, the next one isn't for 2 hours. Starbucks is one of the few places there where I can hang for two hours with one drink, and no one will bother me about freeing up the table. That, to me, would be worth paying €4 just for a cup of tap water. Their coffee, admittedly, often tastes no better.

[IcyPeas]

15. $31 million .... for a coffee chain

it's not like he is doing something to improve humanity. who on earth deserves a salary like that? where do they come up with these figures?

smh

[sakabatou]

16. I went to Starbucks with my friend

I befriended most of the baristas there during mornings. Nowadays, I make coffee at home with instant from Safeway. Costs less, and I can make as many cups as I want.

I do miss the food though.