Community Chat

[proudlyfromNJ]

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@CrazyDaisy wrote:

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@reiki604 wrote:

Starbucks CEO Kevin Johnson received 20.43 million dollars in salary in 2021. Up 39% from his salary of $14.63 million dollars in 2020. This is according to Starbuck reporting to Marketwatch. Price increases are not due to inflation, rather it's simple corporate greed.

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So in a time when prices of everything i.e. product, supplies, wages, benefits etc.,  you want companies to just make less money for their shareholders?

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@CrazyDaisy  That's what it sounds like. 

[MorningLover]

The CEO of Starbucks received a total pay package of $20.4 million in the 2021 fiscal year, according to a new federal securities filing.

That represents a 39% pay increase over the year before, when Johnson received total pay worth about $14.7 million. It’s a 6% increase over 2019, before the pandemic.

Johnson’s pay, like most executives of publicly traded companies, comes mostly from stock awards and other incentives. Johnson received $1.6 million in salary.

He also received $14.7 million in stock awards and another $4 million in incentive compensation.

Starbucks’ stock price during the company’s 2021 fiscal year, which ended Oct. 3, increased about 21%.

The company largely recovered from the pandemic. Revenues increased 23.6% during the year to $29 billion. Net earnings, meanwhile, were nearly $4.2 billion.

Starbucks awards its annual bonus based on a combination of financial performance and individual performance based on a variety of factors, such as mentorship, inclusive leadership and working to improve the environment. Stock awards are based on stock and earnings performance as well as diversity metrics.

Among other company executives, Rachel Ruggeri, who became CFO in February, received $3.3 million in compensation. John Culver, who was promoted to chief operating officer from international group president in June, earned $9.4 million. Rachel Gonzalez, the company’s general counsel, made $5.3 million. Michael Conway, president of international, made $6.5 million.

~Restaurant Business online

[MorningLover]

Starbucks is hiking prices again to offset soaring costs for labor and goods.

Starbucks’s 2022 price-increase plan isn’t just because it wants to make more money, though that's certainly part of it. Restaurants are paying more for everything from coffee beans and packaging to, of course, wages, which many retailers have been forced to raise through the pandemic due to labor shortages. The extra costs are eating into margins.

"When the omicron surge began, inflationary costs and staffing shortages were amplified, well in excess of our expectations," Starbucks CEO Kevin Johnson said on a post-earnings conference call with investors, adding that the chain also will cut spending on marketing and promotions...

[reiki604]

I wonder when the last time @CrazyDaisy and @proudlyfromNJ  received a 39% pay increase? A pay increase that was specific to a single individual, not the stockholders

[shoptilyadropagain]

I'm not a coffee drinker but was given a Starbucks giftcard.  I browsed the menu online and then went and purchased a few food items.  The sandwich was expensive and made me sick.  I still have money left on the card but not sure I'll ever go back. 

Even if I drank coffee, there is no way I'd spend that much on a coffee drink.  

[CrazyDaisy]

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@reiki604 wrote:

I wonder when the last time @CrazyDaisy and @proudlyfromNJ  received a 39% pay increase? A pay increase that was specific to a single individual, not the stockholders

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Board of Directors, who are working for the shareholders, are in charge of compensation packages.  I am sure others in the organization also received stock option packages as part of their compensation.  You seem to be jealous of what others have accomplished in their life.

[reiki604]

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@CrazyDaisy wrote:

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@reiki604 wrote:

I wonder when the last time @CrazyDaisy and @proudlyfromNJ  received a 39% pay increase? A pay increase that was specific to a single individual, not the stockholders

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Board of Directors, who are working for the shareholders, are in charge of compensation packages.  I am sure others in the organization also received stock option packages as part of their compensation.  You seem to be jealous of what others have accomplished in their life.

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LOL>>>>>>you attack but don't answer questions. bye bye boo!

[Porcelain]

That's so great that they're giving their employees a 40% raise! You just don't hear about that very often these days. Go Starbucks!

[CrazyDaisy]

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@Porcelain wrote:

That's so great that they're giving their employees a 40% raise! You just don't hear about that very often these days. Go Starbucks!

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Well since employees can earn stock in the company as one of their benefits, it is to their advantage that the stock price remains high.  Need good leadership for that.

[Porcelain]

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@CrazyDaisy wrote:

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@Porcelain wrote:

That's so great that they're giving their employees a 40% raise! You just don't hear about that very often these days. Go Starbucks!

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Well since employees can earn stock in the company as one of their benefits, it is to their advantage that the stock price remains high.  Need good leadership for that.

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I hope they raise the prices even higher, then. If baristas can easily become millionaires and even billionaires through their stock options and benefits, things are headed in the right direction. This is a very good idea.