08 jun: KORR: Shipping: Baltic Dry-indekset stiger med 0,6 pct
08 jun: EU/Obama: Europa har kapacitet til at løse krisen
08-06-2012 16:51:00

Burberry Chief Set For GBP3.7 Million Package As Other Retailers Cut Payouts

Relateret indhold

--Angela Ahrendts receives GBP2M bonus after "outstanding" year for Burberry

--Award follows falling annual payments for chiefs at M&S, Sainsbury

--Tesco boss had previously waived bonus

By Peter Evans

LONDON--Burberry PLC's (BRBY.LN) Chief Executive Angela Ahrendts will receive a pay and bonus package of GBP3.7 million ($5.7 million) for fiscal 2012, up 4.7% from the previous year, after exceeding profit targets, the luxury retailer said Friday, putting it out of kilter with other major U.K. retailers which have this week reduced payouts for top executives.

Ms. Ahrendts will be paid a bonus of GBP1.98 million, the same amount as last year, on top of a base salary of GBP990,000. She will also receive pension payments and other benefits totalling GBP718,000.

The payment reflects an "outstanding performance" and "exceptional shareholder returns," Burberry said in its annual report.

Burberry delivered a 26% net profit increase for the year to March 31 on revenue 24% higher at GBP1.86 billion. The company, famed for its fashion trench coats and plaid-patterned accessories, has been at the forefront of a worldwide surge in demand for luxury goods in recent years, led by China.

Other U.K. retailers have struggled as torrid economic conditions at home and in Europe and low consumer confidence have eaten into profits. In such a climate, some companies have reduced executive bonuses, especially in the wake of a recent series of shareholder revolts in other sectors over the perception of excessive boardroom pay at underperforming companies.

Marks & Spencer Group PLC (MKS.LN) said Thursday its chief executive Marc Bolland would receive a total pay and bonus package of GBP2.5 million, down from GBP4.9 million a year earlier--although a significant proportion of the previous year's payment came as part of a signing on agreement. Full-year pretax profit at M&S fell 1%, but Mr. Bolland qualified for a GBP664,000 bonus in cash and shares for hitting internal targets.

Also Thursday, grocer J Sainsbury PLC (SBRY.LN) announced its CEO Justin King would see his total pay fall 9% to GBP3.4 million, even as the supermarket reported an increase in profit. Mr. King failed to hit internal sales targets, Sainsbury said in its annual report.

Last month, Tesco PLC (TSCO.LN) head Philip Clarke waived his GBP372,000 bonus and his compensation was cut almost in half, following a lackluster performance by the U.K.'s biggest retailer, and Andrew Moss, chief executive of U.K. insurance group Aviva PLC (AV.LN), announced his resignation after shareholders rejected a proposed GBP2.69 million pay packet. The chief executives of AstraZeneca PLC (AZN.LN) and Trinity Mirror (TNI.LN) also quit after investors challenged their pay.

Write to Peter Evans at peter.evans@dowjones.com

(END) Dow Jones Newswires

June 08, 2012 10:51 ET (14:51 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

GN Hearing lancerer genopladelige batterier til nyt topprodukt

23-08-2017 14:35:14
Genopladelige batterier til høreapparater er et varmt emne i sektoren netop nu, og nu er også danske GN Hearing klar med en løsning på den front.Der er tale om en løsning til det nye trådløse topprodukt, Resound Linx 3D, selskabets femte generation af produkter på den trådløse 2,4 GHz-platform.Løsningen er tilgængelig i Nordamerika og på andre af de største markeder den 1. september, og derfra er ..

Mærsk-rival rygtes klar med ordre på rekordskibe

23-08-2017 10:56:19
Den franske rederigigant CMA CGM har angiveligt besluttet sig for at bestille ni rekordstore containerskibe hos to kinesiske skibsværfter. Det skriver flere medier med henvisning til den kinesiske avis China Daily.De nye skibe, der skal kunne flytte 22.000 tyvefodscontainere (teu) hver, skal bygges af Shanghai Waigaoqiao Shipbuilding og Hudong-Zhonghua Shipbuilding, der begge ejes af den kinesiske..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Aktier/tendens: Faldende USA-salg kan sætte fokus på Genmab
2
Bavarian: Johnson & Johnson bliver storaktionær efter samarbejdsaftale
3
Onsdagens aktier: Ambu belønnet - FLS til tops og Genmab nederst i C20
4
Mærsk-rival rygtes klar med ordre på rekordskibe
5
Aktier/middag: Genmab og Lundbeck bunder i negativt marked

Relaterede aktiekurser

Tesco PLC ORD 5P 187,10 1,6% Stigning i aktiekurs
Aviva PLC ORD 25P 518,50 -0,6% Fald i aktiekurs
Sainsbury (J) PLC ORD 28.. 237,76 0,0% Stigning i aktiekurs
Marks AND Spencer Group .. 322,60 1,1% Stigning i aktiekurs
Astrazeneca PLC ORD SHS .. 4.495,00 1,4% Stigning i aktiekurs
Burberry Group PLC ORD 0.. 1.771,00 -0,9% Fald i aktiekurs
Astrazeneca PLC 29,14 0,2% Stigning i aktiekurs
Trinity Mirror PLC ORD 1.. 99,50 2,1% Stigning i aktiekurs
AstraZeneca PLC 470,80 0,5% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
24. august 2017 03:01:23
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170821.2 - EUROWEB7 - 2017-08-24 03:01:23 - 2017-08-24 03:01:23 - 1 - Website: OKAY