VF Details Pay for CEOs Past and Present

19 Jun

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...

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30 Apr

American Eagle Executive Pay Slips Without Incentives

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Fashion, Featured

Executive pay slipped at American Eagle Outfitters Inc. last 12 months as top leaders received no incentive pay, but Jay Schottenstein, executive chairman and chief executive officer, said the corporate successfully pivoted in a tricky environment and has loads of opportunities ahead. “Fiscal 2022 was one other dynamic 12 months,” said Schottenstein to shareholders in a letter filed to regulators as a part of the corporate’s annual proxy statement. “Consumers were experiencing rising inflation and better rates of interest,” he said. “At the identical time, we continued to navigate supply chain disruptions, which drove elevated costs and product delays.…We pivoted swiftly to regulate inventory, seek efficiencies and maximize productivity. Ultimately, this drove a meaningful improvement in operating income and free money flow...

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27 Apr

Calvin McDonad’s Pay Continues to Rise as Lululemon Strengthens

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Fashion, Featured

Calvin McDonad’s Pay Continues to Rise as Lululemon Strengthens

The spring in Lululemon Athletica Inc.’s step has been good for Calvin McDonald’s paycheck. The chief executive officer saw his total compensation rise 18.1 percent to $15.7 million last 12 months. Many of the pay got here from stock and option awards that were valued at a complete of $10 million and link the chief’s fortunes to those of shareholders. His salary tallied $1.3 million. But McDonald also received incentive pay of $4.4 million — 200 percent of his goal and his maximum potential bonus for the 12 months. To hit that mark, Lululemon needed to see revenue of $7.5 billion and operating income of $1.7 billion for the 12 months. What the energetic brand turned in was adjusted revenues of $8.1 billion with...

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15 Apr

PVH Pay: Stefan Larsson’s Compensation Revealed

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Fashion, Featured

PVH Pay: Stefan Larsson’s Compensation Revealed

, 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,...

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