"Burberry has paid its new chief executive, Joshua Schulman, almost £2.6m in his first nine months in the job, while announcing hundreds of job cuts."
"Despite the job cuts and an annual loss of £66m, Schulman, who took over to reclaim the brand's foothold, can earn up to £5.6m this year."
Burberry's new CEO, Joshua Schulman, has received a staggering £2.6 million in remuneration during his initial nine months amidst the company's announcement of 1,700 job cuts globally to rectify sliding profits. Schulman's pay package included moving costs and a substantial bonus framework. The brand's previous CEO, Jonathan Akeroyd, received a hefty payment upon his departure. Despite Burberry's annual loss of £66 million, Schulman's strategic leadership has resulted in a nearly 50% rise in the company's share price, as he aims to renew the brand's presence in the luxury market.
Read at www.theguardian.com
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