Burberry chief executive sees pay fall but still takes £6.8m

Kasmira Jefford
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ANGELA Ahrendts, the chief executive of Burberry, saw her bonus fall by 21 per cent in the year to 31 March but still pocketed £6.8m thanks to a share windfall.

The luxury firm’s annual report out yesterday showed that Ahrendts’ total pay package including her basic salary, allowances and bonus, fell from £3.7m to £3.3m.

Her bonus fell to £1.54m from £1.98m the previous year after the firm only met 75 per cent of its targets, although this was still worth 150 per cent of Ahrendts’ salary.

The 53-year-old American, who has been chief executive of Burberry since 2006, also received £3.5m in shares that vested in the year to 31 March.

Ahrendts’ pay is significantly down on the previous year when she collected £16.9m including £11.9m of long-term awards, making her the best paid executive in the FTSE, according to consultancy MM&K and governance group Manifest.