In a notable shift from past corporate practices, CEOs of major companies are increasingly running their businesses remotely while requiring employees to return to physical office environments. This week, both Starbucks Corp. and Victoria’s Secret & Co. have exemplified this trend by appointing new CEOs who will manage their respective companies from different states than their headquarters.
Brian Niccol, the new CEO of Starbucks, will operate mainly from his residence, rather than relocating to the company’s primary base in Seattle. Similarly, the newly appointed CEO of Victoria’s Secret will manage the company from New York despite its headquarters being located in Columbus, Ohio. This growing phenomenon of long-distance leadership underscores a significant change in corporate governance dynamics, particularly in a post-pandemic business world that is seeing workers return to office locations with decreased flexibility.
For further details on this development, you can read the full article on Bloomberg Law.