Burberry's millionaire treat to new CEO

Friday, 06 June 2014

New CEO at Burberry, Christopher Bailey, will receive a generous incentive, as the luxury fashion retailer disclosed this week in its annual report.

Bailey will receive a basic salary of 1.1 million pounds plus an annual bonus of up to 2.2 million pounds this year.

Burberry CEO's package for the year also includes 330,000 pounds pension contribution, a ‘golden hello’ share pack of 500,000 shares and incentives which could take his payout to around 10.3 million pounds, subject to his performance.

As advanced in a conference call after the company’s annual update, Bailey promised to go ahead with the strategy laid out by his predecessor, Angela Ahrendts.

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