Originally published Wednesday, November 12, 2008 at 12:00 AM

Starbucks sets pay for new CFO

Starbucks new chief financial officer, Troy Alstead, will be paid a base salary of $450,000 plus a potential bonus of $225,000. He will receive stock...

By Melissa Allison

Seattle Times business reporter

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Starbucks new chief financial officer, Troy Alstead, will be paid a base salary of $450,000 plus a potential bonus of $225,000. He will receive stock options worth $210,000 and life insurance worth three times his base salary

Alstead's predecessor, Pete Bocian, said last week he is leaving on Nov. 25 to become chief administrative officer of Hewlett-Packard. Bocian received a signing bonus of $500,000 when he came to Starbucks last year, and his starting base salary was $575,000 with a minimum bonus of $287,500 for the fiscal year ended Sept. 30.

Alstead, 45, joined Starbucks in 1992 and has been its senior vice president of global finance since last fall. He was a front-runner for the CFO position last year, when Starbucks went outside the company to hire Bocian from NCR to replace its CFO of 12 years, Michael Casey, who retired last fall.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com

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