Brian Niccol
Also at Starbucks Corp
About
Brian Niccol is a seasoned executive with over 25 years of leadership experience, known for his strategic vision and innovative approach in brand management. After building his career at renowned companies such as Procter & Gamble, Yum! Brands, and Chipotle Mexican Grill, he has carved out a legacy of driving substantial revenue growth and transformational change.
Joining Starbucks as Chairman and CEO on September 9, 2024, he brought with him a rich background in operations, marketing, and executive leadership. His prior roles have seen him successfully lead organizations through digital transformation and brand reinvention, marked by impressive financial turnarounds including significant increases in revenue, profits, and stock value.
Beyond his executive career, he actively serves on the Board of Directors at Walmart Inc. and has contributed to nonprofit initiatives such as the Chipotle Cultivate Foundation. His deep commitment to both business excellence and social responsibility defines his multifaceted professional and personal legacy.
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Chipotle Mexican Grill, Inc. | CEO | 2018–2024 | Transformed the company with nearly doubled revenue, nearly sevenfold profit increase, and an ~800% stock price increase |
| Chipotle Mexican Grill, Inc. | Chairman of the Board | 2020–2024 | Led strategic direction |
| Chipotle Mexican Grill, Inc. | Director | 2018–2024 | Oversaw board decisions |
| Taco Bell | CEO | 2015–2018 | Drove significant growth and innovation |
| Taco Bell | President | 2013–2014 | Managed operations |
| Taco Bell | Chief Marketing and Innovation Officer | 2011–2012 | Oversaw marketing strategies |
| Pizza Hut | Various executive roles (General Manager, CMO) | 2005–2011 | Held multiple leadership roles |
| Procter & Gamble Co. | Various brand management roles | Over 10 years | Developed key brands |
| Harley-Davidson, Inc. | Board of Directors | 2016–2021 | Served as a board member |
| KB Home | Board of Directors | 2021–2024 | Advised governance |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Walmart Inc. | Board of Directors | Since 2024 | Active board position |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,600,000 (annual; prorated to $61,538 paid in 2024) | Prorated based on start date (September 9, 2024) | Determined by Mr. Niccol’s skills, experience, responsibilities, market data, and prior compensation. |
| Sign-On Bonus | $5,000,000 | Paid on the one‐month anniversary of employment (after September 9, 2024) | One‐time bonus awarded upon his assumption of the role as chairman and CEO. |
| All Other Compensation | $418,071 | Paid in 2024 | Includes temporary housing expenses ($143,567 with $77,445 tax items), COBRA reimbursements ($6,303), legal fee reimbursements ($48,671 with $20,691 tax items), physical protection security expenses ($127,765), use of Starbucks aircraft for travel ($72,398 and $19,367), and personal driver services at no incremental cost. |
Performance Compensation
Annual Incentive Bonus
| Metric [Unit] | Value | Details |
|---|---|---|
| Target Bonus Opportunity | 225% of Base Salary | Prorated target bonus for 2024 is $216,393. |
| Maximum Bonus Opportunity | 450% of Base Salary | - |
| Financial Performance Weight | 75% | Based on Adjusted Net Revenue & Adjusted Operating Income metrics. |
| Individual Performance Weight | 25% | Not applicable for 2024. |
| Achievement Factor | 14% | Overall weighted factor derived from 93% achievement on Adjusted Net Revenue (resulting in a 35% factor) and 81% on Adjusted Operating Income (0% factor). |
| Actual Bonus Earned | $30,295 | Actual payout based on the achievement factors. |
Equity Awards – Replacement Equity Grant
| Component | Metric [Unit] | Value | Details |
|---|---|---|---|
| Performance-Based RSUs (PRSUs) | Threshold [shares] | 249,196 | Vesting based on achievement of relative Total Shareholder Return (TSR). |
| Target [shares] | 498,391 | - | |
| Maximum [shares] | 996,782 | - | |
| Grant Date | September 16, 2024 | Approval Date: August 11, 2024. | |
| Grant Date Fair Value | $58,291,811 | Calculated via a Monte-Carlo simulation using assumptions including a dividend yield of 0.00%, interest rate of 3.39%, and historical volatility of 32.54%. | |
| Grant Date Stock Price | $96.31 | Target value per share for PRSUs. | |
| Time-Based RSUs | Vesting Schedule | 3-year vesting | Vests in three equal annual installments starting on the first anniversary of employment (September 9, 2024). |
| Overall Replacement Equity Grant | Target Value | $75,000,000 | Consists of 60% performance-based (PRSUs) and 40% time-based (RSUs), replacing forfeited equity awards. |
| Maximum Value | $80,000,000 | - |