Starbucks is building a new office near CEOs California Home: RTO | Entrepreneur

Starbucks has built an office of 4,624 square feet in Newport Beach, California, a five -minute drive from CEO Brian Niccol’s Orange County Home.

According to documents and photos assessed by Business insiderThe office on the 13th floor was completed on July 2 and designed by GenerousA leading architecture company that also designed the Chase Center in San Francisco and Shanghai Tower, the tallest building in China.

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A map for the office, seen by BIInstructs Gensler and the contract team, Pacific Tusk Builders, to build a space with “luxury” accents, including “White Oak” floors and adapted worksheets. It also requires ‘elegant lighting’.

Plans for the office were announced for the first time in an August 2024 US Securities and Exchange Commission Depeling Niccol’s compensation package outlines. The submission stated that Starbucks would start planning a “small external office” in Newport Beach and “An assistant employed” for Niccol of his choice.

“This office location will be maintained at the expense of the company,” is the submission.

Starbucks told BI That other employees can use the new office, although it is unclear how many other employees will work from the office, how long the space took to build and how much it took Starbucks to build.

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Starbucks also has Niccol a basic salary of $ 1.6 million, a signing bonus of $ 10 million and a stock exchange of $ 75 million in the next three years in its compensation package.

^{Starbucks CEO Brian Niccol. Photo by Robin Marchant/Getty images}

Niccol previously commuted at the expense of the company and flew 995 Mijl on the company’s private jet from his home in California to the company’s headquarters in Seattle, Washington, to work at least three times a week from the office as part of the company’s mandate.

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Niccol sent one earlier this month Letter to employees It states that business staff will have to return to the office four days a week from October, an increase in the three -day schedule In 2023. He wrote that employees do their “best work” when they are together.

Employees can choose to receive a cash buy -out of an unprecedented amount if they prefer to leave the company instead of working at the office.

“The standard for support partners should work personally, in a Starbucks office,” Niccol wrote in the letter. “We understand that not everyone will agree with this approach.”

Related: Starbucks offers managers $ 6 million on performance -based stock exchanges

Niccol became Starbucks CEO in September After leading chipotle for six years as CEO. Under his leadership, Starbucks tried to convert it with a “Back to Starbucks” Turnaround plan that has resulted in cuts on the menu, less Waiting time for coffeeAnd the names of customers written on cups in Sharpie.

Starbucks also on Tuesday reported financial results For the tax quarter of 13 weeks ending on June 29. The worldwide sale of store fell by 2%, with the sale of North American store also decreased by 2%, what the Sixth consecutive quarter of falling sales. However, the net turnover rose by 4% to $ 9.5 billion compared to the same time last year.

The WinSt report also stated that Starbucks opened 308 net stores in the quarter, for a total of 41,097 global stores.

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