Pay Tag
MILAN — A month after resolving winding-up petitions filed by a pool of U.K.-based creditors, luxury lingerie brand La Perla has allegedly didn't pay its Italian staffers this month, based on a note issued by local trade unions.
The Filctem-Cgil and Uiltec-Uil unions said in a joint statement that the corporate, now owned by German businessman Lars Windhorst’s private equity firm Tennor, and based in London, didn't pay wages to its Bologna, Italy-based employees this month. They unpaid employees reportedly total 350.
“We consider this as an act of utmost seriousness which confirms the caliber of the management’s commitment to the La Perla Group,” the unions said. “In consideration of this umpteenth act of disdain from La Perla’s management team we urge...
Continue reading
Under Armour Inc. has loads riding on Stephanie Linnartz’s Protect This House 3 plan to reinvigorate the corporate — and so does the newly appointed president and chief executive officer.
Linnartz, a former Marriott executive who moved into the corner office in late February, received stock awards valued at $11 million, in addition to a complete salary of $125,000 and a bonus of $175,000 for the fiscal yr ended March 31.
Stock awards, even unvested awards, are valued as of the grant date in corporate Proxy statements — so how much of the worth in those stock awards Linnartz ever sees will rely upon just how well Under Armour’s stock performs.
Shares of the corporate rose 1.5 percent to $6.74 on Tuesday, however...
Continue reading
When Steve Rendle retired as president, chief executive officer and chairman of VF Corp. last yr — which the corporate described as “by mutual agreement with the board” — he left some potential large equity payouts on the table.
Rendle forfeited stock and option awards valued at $9.9 million when he left in December, in accordance with VF’s proxy statement, filed with the Securities and Exchange Commission on Monday. Rendle did receive a salary of $943,562 and other compensation of $624,475 — including $47,957 to cover paid day without work not taken and $456,438 related to a Protective Covenants Agreement he signed. Under the agreement, Rendle agreed to not compete with VF for one yr following his Dec. 2 retirement.
Stock and...
Continue reading
