Doesn’t sound very “green” to have one man commute 1000 miles each way to work, in a Super Large Business Jet.
You have it backwards: they can afford to offer their new CEO such a package because so many folks are willing to pay $6 for a cup of over-roasted coffee. Frankly, with all the commuting days on the road, and performance pressure, that base of $1.6M wouldn’t tempt me. BT/DT for nearly a decade before my wife’s career forced the issue, resulting in a smaller salary, a bazillion unused FF miles, and a lot less stress.
I started drinking SB coffee at the start of that new phase in my career, because there was always a SB on the ground floor of every office building I worked in, and they were a known (if over-roasted) quantity. These days, there are quite a few better alternatives available in any metro area. Niccol will shake things up a little, which may be reflected in next year’s earnings report, and he may get his bonuses, but there are too many better coffee alternatives now, than when I was traveling.
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Having a CEO that is not willing to move to/live near company HQ is not a good sign. Shows lack of engagement with the company that they are CEO of. I’ve seen it before, it usually does not work out well in the long term.
Correct, Bob. Backwards. It was a crossed wire between the headphones and I corrected it.
It goes both ways. Sam Walton always flew economy so he could keep prices as low as possible, along with other cost-cutting measures.
Those are large planes with plenty of seats and other flights he is not on for others to participate in the fixed costs. Its probable the per mile charges they are going to ding him will be much less than he needs to ensure getting to work and back on the 250K.
Like everything else in corporations, it is just the optics that count. $250,000 is a number they thought shareholders and climate advocates would accept. Creative bookkeeping will ensure he will not be pedalling a skateboard or rubbing elbows with blue collars to get to work.