Latest news with #stockawards
Yahoo
26-06-2025
- Business
- Yahoo
Capri CEO John Idol's Pay Slips to $9.1 Million
John Idol, chairman and chief executive officer of Capri Holdings, saw his total pay slip 14 percent to $9.1 million last year, according to a regulatory filing. Idol received a salary of $1.4 million and incentive pay of $540,000. But most of his take came in the form of stock awards, which were valued at $7 million, although they only really pay off if the company performs in the market. More from WWD Michael Kors and Lance Le Pere Named to the American LGBTQ+ Museum Board of Trustees Prada Group Bolsters Vertical Integration With Strategic Stake in Rino Mastrotto Group Michael Kors and Lance Le Pere Honored by LGBT Fashion Centered Dinner And Capri's stock has been in a tough spot. While Tapestry Inc. agreed to buy the company for $57 a share, the stock fell sharply when the government held up the transaction on anti-trust grounds last year. Shares of Capri were trading below $17 on Tuesday, leaving the company with a market capitalization of less than $2 billion. While Idol's pay was more or less routine for a CEO — his incentive pay was the same as it was the year before, but well below the $4.3 million he took home in fiscal 2023 — there were some interesting details on the pay packages taken home by former executives last year. Thomas Edwards, who had been chief financial and operating officer of Capri, logged a pay package of $4.4 million, including $2.4 million in stock awards, an $800,000 salary and a $1.1 million retention bonus, on paper at least. It turns out, that bonus wasn't enough to retain Edwards as he was named chief financial and operating officer at Macy's Inc. in April. Capri said the bonus was to 'recognize the substantial efforts and time that Mr. Edwards devoted to the previously terminated merger with Tapestry Inc., and to ensure Mr. Edwards' continued employment and dedication to the company.' Since he left early, Edwards received only $800,000 of the award. And Cedric Willmotte, former CEO of the Michael Kors brand, logged pay of $5 million, including $2.5 million in stock awards, a $1.5 million bonus under his 'separation and release agreement' and a $1 million salary. After Willmotte left, Idol stepped back in to lead the turnaround of the Michael Kors brand directly. Michael Kors is the biggest part of Capri, which also owns Jimmy Choo and is in the process of selling Versace to Parada for $1.4 billion. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-06-2025
- Business
- Yahoo
Ralph Lauren's Pay Package Tops $24 Million
The march higher at Ralph Lauren Corp. — which has seen the company steadily elevate its brand and sharpen operations — is paying off for the C-suite. Ralph Lauren, executive chairman and chief creative officer, saw his total pay rise 22.6 percent to $24.2 million last year. That included incentive pay of $11.2 million, stock awards valued at $11 million and a salary of $1.8 million, according to the company's proxy statement. More from WWD Kate Middleton Embraces Power Dressing in Blue McQueen Suit for Museum Visit Nantucket Jeweler and Marissa Collections Face Legal Fight After Potential Deal Dissolves Ralph Lauren Tops Q4 Estimates, but Sees Sales Growth Slowing This Year Patrice Louvet, president and chief executive officer, also saw a pay boost, with his compensation increasing 38.8 percent to $23.1 million. The CEO's take included stock awards valued at $13.5 million, incentive pay of $8.1 million and a salary of $1.4 million. Stock awards are a standard feature of executive pay, tying the compensation packages to the fortunes of other shareholders as they only pay off if the company performs in the market. The proxy statement is filed with regulators and sets up the company's annual meeting on July 31. The schedule for the virtual meeting shows it should be a relatively routine affair. But Lauren and Louvet did start to hype the company's progress in a letter to shareholders included with the proxy. 'As we completed the third and final year of our 'Next Great Chapter: Accelerate' strategic plan, Ralph Lauren delivered on all key commitments and is in a position of strength — consumers across generations and cultures are connecting deeply with our iconic brand, timeless products and elevated experiences around the world,' the executive pair said. 'Our progress is rooted in our purpose — to inspire the dream of a better life through authenticity and timeless style — which guides our teams every day… 'In a complex global operating environment, we are in a position of strength,' they said. 'We have proven resilience in our business model and remain focused on the opportunities across our brands, categories, channels and geographies to deliver long-term growth and value creation for the years to come.' Shares of the company rose 16.8 percent during its fiscal year ended March 31, and are up nearly another 20 percent since then, leaving it with a market capitalization of roughly $16 billion — one of the best valuations in the American fashion industry. Ralph Lauren also laid out some changes in the boardroom going forward. After the annual meeting, former Burberry and Apple retail chief Angela Ahrendts will become the company's lead independent director. She has been on the board since 2018. Ahrendts succeeds Hubert Joly, who is not seeking reelection after 16 years on the firm's board. 'Hubert has been an integral part of our board and has been instrumental in guiding and supporting our strategy, while embodying the passion and dedication that define our brand,' Lauren said. The designer also welcomed Ahrendts to her new role and said she 'has consistently offered valuable guidance and brought her perspective as a respected innovator in the industry.' With Joly's departure, the board will have 11 directors. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Yahoo
11-06-2025
- Business
- Yahoo
VF CEO Bracken Darrell's Pay Hits $10.7M
Bracken Darrell's pay hit $10.7 million during his first full year as president and chief executive officer of VF Corp. That included a salary of $1.3 million, incentive pay of $2.7 million and stock and option awards valued at over $6.7 million, according to the company's proxy statement. More from WWD Shares of Vans Parent Company VF Corp. Sink After Q4 Revenue Miss Vans Owner VF Corp. Confirms 400 More Layoffs Across the Company Wall Street Crashes on Trump Tariffs That Could 'Hobble' the Apparel Industry CEOs often get a big chunk of their pay in stock and option awards, which come with strings attached and link their own financial fortunes with those of shareholders. In fiscal 2024, Darrell's compensation tallied $13.5 million, dominated by $12.4 million in stock and options awards received as he stepped in to turn around the company. It's been a busy stretch for Darrell, who has changed leadership at the company's brands, including The North Face and Vans, and sold off Supreme to EssilorLuxottica in a $1.5 billion deal that helped clean up the company's balance sheet. Last month, Darrell told analysts that he's using what is an unusually mixed-up market to push the company forward. 'There's a lot of uncertainty out there from a macro standpoint, but we're not at all distracted by it,' the CEO said on a conference call. 'Our goal is to leverage it to improve our business. Our transformation is on track and progressing well and it's allowing us to be more agile and nimble, making better decisions more quickly. We're making progress towards our medium-term goals, regardless of the volatility in the macro environment.' In a letter to shareholders included with the proxy statement, chair Richard Carucci said management was 'on track to transform VF,' bringing in 'best-in-class talent' while paying down $1.8 billion in debt. 'We significantly improved gross margin and operating profit through lower promotions and cost reductions,' Carucci said. 'During the year, we introduced actions and processes to achieve a 10 percent operating margin in fiscal 2028.' Last year, operating margins increased to 3.2 percent, up from a negative 1.5 percent the prior year. 'We are not yet where we want to be on driving growth,' he said. 'Revenue declined [4 percent to $9.5 billion] in fiscal 2025 versus prior year. This result was in line with our expectations, but it is not consistent with our historical success or our longer-term aspirations.' Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
13-05-2025
- Business
- Bloomberg
Nvidia CEO Compensation Jumps to $50 Million After Stock Surge
The pay package of Nvidia Corp. Chief Executive Officer Jensen Huang jumped 46% to nearly $50 million in fiscal 2025 after the company he co-founded became the top beneficiary of an artificial intelligence spending boom. Huang's compensation is up from $34.2 million in the prior year, mainly due to the soaring value of his stock awards. The salary portion of his pay increased to almost $1.5 million, up from $996,514 the prior year, the company said in a regulatory filing.
