BURBBERY confirmed yesterday that its new chief executive Christopher Bailey was handed a golden hello in shares worth up to £7.6m that could take his total pay package to over £10m.
The luxury brand’s annual report out yesterday revealed that Bailey is receiving a basic salary of £1.1m plus a spending allowance of £440,000 and an annual bonus of up to £2.2m.
The 500,000 golden hello shares, which are linked to the group’s ambitious performance targets, could pay out in 2015 and 2017.
In total Bailey could be a awarded £10.3m this year depending on Burberry’s performance.
Angela Ahrendts, who left for Apple last month, took home £8m in pay and new shares.