, chief executive officer of PVH Corp., saw his compensation slip 17.5 percent to $12.1 million last yr, in response to the corporate’s proxy statement filed with the Securities & Exchange Commission. 

The largest a part of the CEO’s pay got here from stock and option awards that were valued at $8 million within the filing, although Larsson’s actual take will depend upon how well the stock performs — tying his own return to the fortunes of shareholders.

He also received $2.2 million in incentive pay and a salary of $1.3 million together with other types of compensation. 

Larsson, who took the lead on the Tommy Hilfiger and Calvin Klein parent in 2021, has been transforming the business along with his PVH+ plan, which focuses in on staple looks, or “hero” products, and backs them up with big-time marketing.

“We’re within the early phase of this journey and consider we’re well-positioned to win,” Larsson told shareholders within the proxy.

Larsson and PVH began getting some more credit for the approach last month, when fourth-quarter adjusted earnings per share got here in at $2.38, flying past the $1.65 projected by analysts, while revenues rose 9 percent in constant currencies, excluding the impact of the war in Ukraine.

“All year long, we experienced unprecedented external headwinds felt across the worldwide economy, our sector and our business, from the war in Ukraine, decades-high strength of the U.S. dollar and inflation rates globally, and continued COVID-19 disruptions,” Larsson told shareholders. “Despite the increasingly difficult macroeconomic environment, our Calvin Klein and Tommy Hilfiger businesses continued to exhibit underlying strength, underpinned by great products tied to impactful consumer engagement. We exited 2022 and entered 2023 with significant momentum that we’re excited to construct upon.”