Source: Business Standard
Security & Justice
State Action Signals Change in Tackling Longstanding Illegal Land Grabs in Jbeil District
For years, the serene villages of Jbeil's highlands have been far from peaceful. Ghabat, a Maronite village nestled between the predominantly Shiite towns of Afqa and Lassa, has become a focal point of growing tensions due to territorial disputes.
Friday, December 20, 2024
Mawlawi Ensures Strict Monitoring for Wanted Syrian Regime Figures at Beirut Airport
Caretaker Minister of Interior, Bassam Mawlawi, conducted an inspection tour of Rafic Hariri International Airport in Beirut to review the security arrangements and measures implemented by the Airport Security Apparatus ahead of the holiday season.
Thursday, December 19, 2024
Opinion
Lebanon After the Assads
The United States has important equities in Lebanon, including a desire for a generally friendly government’s economic and political stability; security cooperation; long-standing relations with the large Christian community in Lebanon and Lebanese diaspora in the United States; and ultimately peace between Israel and Lebanon within a broader regional settlement. Achieving these objectives will require navigating a tumultuous period in the country’s history following a war between Hezbollah and Israel that has devastated a large part of the country, exacerbating Lebanon’s already challenging economic conditions. But perhaps the most important dynamic will be how a likely Sunni-dominated state of uncertain composition in Syria will differ in its intentions toward Lebanon from the previous Alawite-led minoritarian Assad regime.
Thursday, December 19, 2024
Europe’s Syrian Dilemma
The news of the sudden and unexpected demise of Bashar al-Assad’s regime in Syria has met a mixed response in Europe. The jubilation that a murderous dictator and close ally of Russia and Iran has fallen is not just good for the Syrian people but serves as a morale booster for Eastern Europeans wondering whether Russia can be defeated
Wednesday, December 18, 2024
Sports
Cristiano Ronaldo Unveils New Private Jet Worth $73 Million
Cristiano Ronaldo, one of the richest global athletes, has unveiled his upgraded private jet reportedly worth $73 million. With its top-notch design, exceptional speed and range of 7500 nautical miles, the Gulfstream G650 is among the fastest jets in the world.
Monday, December 16, 2024
Guardiola Accepts Man City May Need to Sign More Players to Cope with Schedule
Manchester City manager Pep Guardiola believes he will need a bigger squad to handle soccer’s ever-expanding fixture schedule.
Saturday, December 14, 2024
Thursday 22 August 2024 14:46:58
Starbucks' CEO Brian Niccol to Commute 1,600 Km to Work Via Corporate Jet
Imagine starting your workday with a cup of Starbucks coffee in California and wrapping it up nearly 1,600 km away in Seattle — all before dinner.
For Starbucks' new chief executive officer (CEO), Brian Niccol, this will be the norm as he embarks on a daily commute like no other. Despite living in sunny California, Niccol is set to clock in at the company's Seattle headquarters, traversing the West Coast via corporate jet as part of his unique journey to the office.
Niccol's employment agreement includes the provision of a corporate jet for his daily commute. Despite the long distance, the Starbucks CEO must work from the Seattle office at least three days a week due to the company's hybrid work policy, which has been in effect since 2023.
At 50 years old, Niccol will earn a base salary of $1.6 million annually. In addition to this, he could receive a cash bonus between $3.6 million and $7.2 million, contingent on his performance. He also has the opportunity to earn up to $23 million in annual equity awards.
This commuting setup isn't new for Niccol. When he became CEO of Chipotle in 2018, he negotiated a similar agreement. Shortly after he took on the role, Chipotle relocated its headquarters from Colorado to California.
CNBC quoted a Starbucks spokesperson as saying, “Brian’s primary office and a majority of his time will be spent in our Seattle Support Center or out visiting partners and customers in our stores, roasteries, roasting facilities and offices around the world. His schedule will exceed the hybrid work guidelines and workplace expectations we have for all partners.”
Flexible work arrangements are often negotiated by top-level executives who possess considerable bargaining power. For example, Hillary Super, the CEO of Rihanna's lingerie brand Fenty x Savage, secured a deal that allows her to work from New York City, rather than relocating to Victoria’s Secret’s headquarters near Columbus, Ohio.
However, this level of flexibility is not available to all CEOs. Amazon’s Andy Jassy and JPMorgan Chase’s Jamie Dimon are both strong proponents of bringing employees back to the office.
The specific reasons for Niccol’s remote work agreement are tied to Starbucks' recent challenges. Under former CEO Laxman Narasimhan, the company has seen a decline in sales in its largest markets, the US and China, this year.
Niccol’s new role carries significant expectations due to his proven ability to turn companies around. During his tenure at Chipotle, the company's stock reportedly surged by 773 per cent.