Starbucks CEO Schultz made $65 million

@CNNMoney January 27, 2012: 10:14 AM ET
Howard Schultz made $65 million in 2011.

CEO Howard Schultz made $65 million in 2011.

NEW YORK (CNNMoney) -- Starbucks chief executive officer Howard Schultz was paid more than $65 million in fiscal year 2011, including salary, bonuses and stock options.

That places Schultz in the exclusive club of executives earning at least $50 million per year.

Schultz earned a base pay of $1.4 million, a bonus of $2.9 million, and a "long-term incentive" of $12 million, according to Starbucks' proxy statement filed with Securities and Exchange Commission on Thursday. That "direct compensation" totals nearly $16.4 million.

In addition, Starbucks said that Schultz received a retention bonus of $12 million and exercised stock options worth $36.8 million. So altogether, the CEO earned more than $65.2 million in 2011.

In the proxy statement, the company praised Schultz for his "exceptional performance and his leadership."

CEO pay jumps 36.5%

Starbucks (SBUX, Fortune 500) filed the statement Thursday, the same day that the company filed its returns for its first quarter of fiscal year 2012, covering the 13 weeks that ended Jan. 1.

The company said that total net revenues jumped 16% to a record high of $3.4 billion. Same-store sales around the world rose 9%. Net earnings rose 10% to $382 million. Earnings per share rose 11% to 50 cents, another figure that the company identified as a record.

This announcement comes just days after Starbucks announced that it would offer alcoholic drinks - beer and wine - at some locations in Atlanta and Southern California later this year. Starbucks already serves beer and wine at some of its Chicago locations.

Starbucks also announced this month that it would raise prices for select drinks at some locations in the Northeast and the Sunbelt, but not California or Southern Florida. To top of page

Most Popular
If you're using 'Password1,' change it. Now.
 
Positive economic signals send stocks higher
 
AT&T raises limit for smartphone data slowdown
 
Wealthy would cash in under Romney tax plan
 
Yelp prices IPO above target
 
Hot List
Ohio's good times are back (sort of)

The manufacturing industry in Ohio is coming back strong. But that doesn't mean all the jobs will return. More

Romney tax plan would benefit rich

According to a new analysis from the Tax Policy Center, wealthy Americans would see their taxes fall precipitously under Mitt Romney's new plan. More

World's Most Admired Companies

Which companies have the best reputations? Apple tops the list for the fifth year in a row. See who else made the top 50 this year and vote for your favorite company. More

If you use 'Password1,' change it. Now.

The top way hackers get into business systems is simply by breaking a weak password.  More

Bye-bye big banks!

Credit unions hit a record number of members last year, as consumers grew fed up with the fees at the nation's biggest banks and took their money elsewhere.  More

CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.