In a Revolutionary Guesture of Cost Savings, Starbucks Refuses to Increase CEO’s Salary

From the Wall Street Journal:

Starbucks Corp. Chairman and Chief Executive Howard Schultz and other top managers will not get salary increases next fiscal year, according to an internal Starbucks memo sent this week.

The move reflects the Seattle-based coffee chain’s continuing effort to rein in spending as it tries to revive its profit growth and stock price.

Finally! A big corporation realized that tempering CEO pay is indeed a way to save money.

  • Let me start by saying I love what Schultz has done. Great guy, great business mind…and oh by the way, a billionaire. Why he is even taking a salary is beyond me. Just load up on options and if you do your job and turn this thing around then that is your reward.

    However, not playing the $1 salary game is a solid on his part as well. Man, what a BS scam that is!