The compensation for attending 11 board meetings a year (plus some committee meetings) ranges from $245,633 a year to $626,600. This site notes: "Starbucks pays for Howard Schultz’s security costs which were $680,961 in 2009; in 2010 he reimbursed the company part of his security costs resulting in an aggregate cost of $210,268." || Read "The Director Compensation Project: Starbucks Corp.
Clearly, Mr. Schultz takes care of the Board, and they take care of him!
Posted by: SBUX Alum Bill | June 22, 2011 at 09:20 PM
Obviously Starbucks needs to cut labor costs even more to pay these hard-working directors even more.
Posted by: James Connolly | June 23, 2011 at 08:53 AM
Not to change the subject, but sort of...
I don't resent these people for making the big bucks but I do think each store should be allotted 6 hours of non coverage for well needed deep cleaning.
Posted by: spence | June 23, 2011 at 11:36 AM
If you don't resent these people for making a ton of cash for doing quite literally nothing you need to get your head checked.
Posted by: James Connolly | June 23, 2011 at 12:18 PM
I used to think that corporate governance was a boring topic, but not anymore. These figures are obscene, especially so because of the low wages to partners and the unsafe/crowded working conditions.
Posted by: drive | June 23, 2011 at 01:50 PM
@James and "Drive"...come on! In some cases board members have other jobs they work so they have this on top of the everyday job. If you look at most, they are paid in options which is a motivator for them to ensure Uncle Howie does his job. If you are bothered by this then run for the Board of Directors when there is an opening and be the change you want to see.
Posted by: PDXBarista | June 23, 2011 at 09:51 PM
...so the fact that they have other jobs justifies them getting paid anywhere from eight to ten times the annual pay of a barista for doing virtually nothing? What planet are you on?
The only way you end up on a board of directors these days is if you are a rich corporate oligarch already. Sure there are exceptions, but for the most part, if you aren't already a big player, you don't get onto a board of directors.
Posted by: James Connolly | June 24, 2011 at 04:42 AM
PDX, institutional investors elect boards of directors and call all the shots. Average Joe Shareholder has zero chance of getting a board position or influencing any votes of the shareholders.
Board members shouldn't need any compensation. They all already are millionaires most likely. And the fact that they personally get to oversee how their own money (the shares they already own), and others' is handled should be compensation enough. If they do their jobs right, they should be enriching themselves even more than they already are in the process.
Posted by: Aaron | June 25, 2011 at 09:11 PM
buy a designer laptops with confident laptop bag designer and get big save
Posted by: Doundjodie | August 19, 2011 at 01:03 AM