Boohoo’s new pay plan is a case of “heads I win, tails you lose”. The online retailer unveiled a new long-term incentive plan (LTIP) in its annual report after a 34% share price slump since January put existing schemes out of reach. Chief Executive John Lyttle stands to gain 50 million pounds if the company’s stock market capitalisation soars to 5.6 billion pounds by 2024 and 150 million pounds if the share price reaches 6 pounds. With Boohoo’s market cap down by over two-thirds in the last year to around 1 billion pounds, that looks tricky.
A smartphone with the Boohoo logo displayed is seen on a keyboard in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustrationnew pay plan is a case of “heads I win, tails you lose”. The online retailer unveiled a new long-term incentive plan in its annual report after a 34% share price slump since January put existing schemes out of reach. Chief Executive John Lyttle stands to gain 50 million pounds if the company’s stock market capitalisation soars to 5.
To make sure Lyttle isn’t short-changed, Boohoo has introduced an extra LTIP for this year. The CEO can still be awarded 200% of his 652,000 pound salary as long as he reaches various targets for revenue and earnings growth, as well as somewhat fuzzy environmental, social and governance goals. He can still pocket the other LTIPs if the share price bounces back.
Boohoo may struggle to get it over the line. Other companies with market value-based schemes, like RyanairRegister now for FREE unlimited access to Reuters.com
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Cannes: Uwe Boll Plans Return to Filmmaking With ‘Ness’ (Exclusive)The notorious director of 'Rampage,' 'Postal' and 'Far Cry' is planning a $25 million film on legendary 'The Untouchables' agent Eliot Ness post-'The Untouchables.'
Les mer »
Allianz unit to pay $6 billion over 'massive' investor fraudBus drivers, subway conductors and religious and charitable organizations nationwide were among the victims, authorities say.
Les mer »
Musk hints at paying less for Twitter than his $44B offerTesla CEO Elon Musk has given the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.
Les mer »
Musk hints at paying less for Twitter than his $44B offerTesla CEO Elon Musk has given the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.
Les mer »
Musk hints at paying less for Twitter than his $44B offerTesla CEO Elon Musk has given the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.
Les mer »
Elon Musk hints at paying less for Twitter than $44B offerTesla CEO Elon Musk gave the strongest hint yet Monday that he would like to pay less for San Francisco-based Twitter than his $44 billion offer made last month.
Les mer »