Brian Niccol's net worth: Here's how rich Starbucks' new CEO is
Brian Niccol, the newly appointed CEO of Starbucks, is a prominent figure in the food industry with an impressive track record. Before joining Starbucks, Niccol was the Chairman of Chipotle Mexican Grill, his tenure at Chipotle will end on August 31, 2024, and will start in his new role at Starbucks on September 9, 2024. Howard Schultz, the former CEO of Starbucks, has shown strong support for Niccol¡¯s new role. Estimating his net worth involves various factors like his salary, stock options, investments, and personal expenses. According to the website moneyworks24, as of 2024, Niccol¡¯s net worth is estimated between $100 million (Approx Rs 839 crore) and $120 million (Approx Rs 1,000 crore). This estimate considers his earnings, bonuses, and investments, reflecting his significant financial success.
Who is Brian Niccol?
Brian Niccol has been with Chipotle since 2018 and became Chairman of the Board in March 2020. His career is highlighted by several accolades, including being named in Bloomberg¡¯s ¡®People Who Defined 2019¡¯ and Comparably¡¯s ¡®Best CEOs¡¯ (2019). He was also honoured as ¡®Businessperson of the Year¡¯ by Fortune in 2019.
Niccol has also served as a board member at Walmart Inc. and has held positions on the boards of KB Home and Harley-Davidson. His previous roles include Chief Marketing and Innovation Officer, President, and CEO at Taco Bell from 2011 to early 2018. Before Taco Bell, Niccol worked in various executive roles at Pizza Hut between 2005 and 2011. He began his career with a decade at Procter & Gamble.
Niccol graduated from Miami University with an undergraduate degree and earned an MBA from the University of Chicago Booth School of Business.
Brian Niccol's Success and Achievements
Niccol¡¯s leadership at Chipotle has been highly successful. Under his guidance, Chipotle saw remarkable revenue growth, showcasing his ability to lead and drive business success. His proven track record is expected to bring positive changes to Starbucks as well.
At Taco Bell, Niccol made significant strides, moving from Chief Marketing and Innovation Officer to CEO. His success at Chipotle and his impressive achievements in the food industry have set high expectations for his new role at Starbucks.
Brian Niccol's Salary and Compensation
As CEO of Chipotle, Brian Niccol¡¯s compensation was substantial. In 2023, he earned around $38 million (Approx Rs 318 crore) in total, including a base salary of approximately $1.25 million, reported moneyworks24. Most of his earnings came from stock options and performance-based bonuses, reflecting his successful leadership and impact on Chipotle.
Laxman Narasimhan Steps Down As Starbucks CEO
Laxman Narasimhan is resigning as CEO and from the Starbucks board "immediately," according to a statement from the company. During Narasimhan's leadership, Starbucks faced a 3% decline in global sales at stores open for at least a year. On the other hand, under Niccol¡¯s leadership, Chipotle saw an astonishing 800% revenue growth.
