No, that’s not a typo. According to Exec Pay, Brian Niccol – who boasted a net worth of “at least $76.9 million” in mid-March of this year per Wallmine – saw a drastic, 52 percent decrease in compensation within two years of taking over as CEO of Chipotle, dropping his $33.5 million earnings in 2018 (via Restaurant Business) to $16 million in 2019.
Still, $16 million is a pretty hefty number. Of that, Niccol combined a $1.2 million base salary and $3.87 million in bonuses for a total cash compensation of just over $5 million in 2019 (via Salary.com). He earned $5,700,073 in stock awards, $2,731,683 in stock options, and an additional $2,566,388 in undisclosed earnings, bringing his exact remuneration in 2019 to $16,068,144.
There have been some recent changes to the payment structure as well. Per Business Insider, 10 percent of executives’ salaries, including Niccol’s, will be awarded upon meeting employee diversification and environmental goals within the company.