Top executives at Starbucks did not receive bonuses in 2008 and won't get any increases on their base salary in 2009 due to due to disappointing results for the company which has suffered in the wake of less consumer spending.
Starbucks said Thursday five top executives didn't receive bonuses last year. Its CEO, Howard Schultz received $1.19 million as base salary. He compensated the firm when he used the corporate jet, Starbucks said in a proxy filing.
Schultz will not receive bonus this year, and compensation for fiscal 2009 will only be made to the extent that the company's share price increases over time, the filing noted.