Originally published May 8, 2008 at 12:00 AM | Page modified May 8, 2008 at 8:32 PM
Starbucks' former CEO promises not to work for McDonald's or Dunkin' Donuts
Starbucks' former chief executive, Jim Donald, will be paid $1.25 million this year as long as he doesn't violate confidentiality and noncompetition agreements with the Seattle-based coffee company.
Seattle Times business reporter
Starbucks' former chief executive, Jim Donald, agreed not to work for McDonald's or Dunkin' Donuts as part of a noncompetition agreement he signed after being pushed out of the coffee company in January.
He can work for a grocery chain and other fast-food chains, including Wendy's and Burger King, according to a securities filing by Starbucks today. But McDonald's and Dunkin' Donuts "directly compete with Starbucks field of business."
In return for signing the noncompetition and confidentiality agreements, Donald will receive $1.25 million this year, an amount that Starbucks made public in January.
Today's filing said that Donald also agreed not to make derogatory or disparaging comments to the press or anyone about Starbucks, its shareholders and employees. Starbucks' board and principal officers cannot make such remarks about Donald, either.
Launi Skinner, who was president of Starbucks' U.S. operations, also signed confidentiality and noncompetition agreements when she left in March. She received a full year's salary, although that amount was not disclosed publicly, along with outplacement services worth up to $14,000 from the firm Lee Hecht Harrison and a Starbucks Partner Card entitling her to merchandise discounts for life.
Starbucks also disclosed compensation for three executives, including Arthur Rubinfeld, a former Starbucks executive who was rehired as president of global development.
Rubinfeld received a signing bonus of $200,000 after he came aboard in February. His salary this year is $450,000, plus a "minimum target" bonus of $292,500 and 145,000 stock options, which would be worth about $2.3 million based on today's stock price.
Chet Kuchinad, who was promoted to executive vice president of partner resources, will receive a salary of $400,000, a bonus that could equal half his salary, and stock options worth $400,000.
Cliff Burrows, who was promoted to Skinner's former position as head of U.S. operations, will receive a $595,000 base salary, a bonus that could equal 65 percent of his salary, and stock options worth $250,000.
Melissa Allison: 206-464-3312 or mallison@seattletimes.com
Copyright © 2008 The Seattle Times Company
Plasma and LED beware; OLED screens ready to go mainstream
Despite latest uptick, second half of year doesn't look that promising
Q&A : Right cable can work with old camcorder
Summer gas prices should stay put unless ...
Homebodies fuel boob-tube boomlet

Tribal Fireworks Rivalry
The Fourth of July marks a long-standing fireworks rivalry between two clans of a Native-American family in Suquamish.
Entertainment | Top Video | World | Offbeat Video | Sci-Tech
nwjobs

Post a comment

Michelle Goodman blogs about work/life balance.
Tax tips for new independent professionals
Post a comment
nwautos

Choosing a new SUV? Weigh the impact your choice will have on your wallet and on the planet.
Post a comment
nwhomes

Find a new home or condo that fits your lifestyle.
Search New Developments
Builder Directory
- Bicyclist killed Wednesday night is identified
- Politics Northwest | Stephen Colbert takes on lawsuit against Seattle fireworks show
- Speculation grows for Boeing 787 plant in South Carolina
- Yakima teacher reprimanded for sending 5-year-old student home with bag of feces in backpack
- Palin resigns as governor, leaves plans secret
- Fire sends service providers scrambling
- 6 jurors swear a cop's wife swayed panel in Kent civil rights case
- Feds arrest 31 in drug raids from Lynnwood to Northern California
- Going to Gas Works Park? Good luck
- Feds seize Madoff penthouse, wife leaves
- Palin resigning as Alaska governor
460 - Seattle Mariners at Boston Red Sox: 07/04 game thread
341 - Obama's own party worried health plan lacks votes
248 - Recession wipes out 9 years of job gains
85 - Yakima teacher reprimanded for backpack feces
84 - 6 jurors swear a cop's wife swayed panel in Kent civil rights case
69 - Obama's practical immigration-reform approach: Legalize status of illegal workers
66 - Global warming may impede eelgrass growth
64 - Eyman initiative looks likely for November ballot
55 - Woman accuses Sounders FC player Nate Jaqua of sexual assault, seeks more than $10 million
51
- Paddler's paradise: South Sound offers quiet and beauty
- Politics Northwest | Stephen Colbert takes on lawsuit against Seattle fireworks show
- Winter snowpack melts into waterfalls
- Speculation grows for Boeing 787 plant in South Carolina
- Jerry Large | An aging parent forces agonizing decision
- Going to Gas Works Park? Good luck
- Liven up Fremont's attempt to break a world record for a 'zombie walk'
- Lynnwood's City Bank gets tighter scrutiny
- Costco contacts customers as beef recalled
- Bicyclist killed Wednesday night is identified





