New Starbucks CEO will maintain his residence in Newport Beach, CA and commute to Seattle for a 3-day hybrid work week.
Starbucks will also rent an office in a strip mall close his home as a “satellite office” and make that his workplace. That makes the $10,000/hr commuting flight on the Corporate Jet a business expense, rather than taxable income to the new CEO.
This arrangement was pioneered by the Jack Welch-trained MBAs that run Boeing. Calhoon commutes to Virginia from his Golf Club estate in South Carolina. The Boeing CFO has a satellite office near his home in Darien CT.
I might have worked a couple of more years if I was getting this kind of deal. {{ LOL }}
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