Shareholders of PVH Corp. (PVH), owner of the Tommy Hilfiger and Calvin Klein apparel brands, voted today in favor of Chief Executive Officer Emanuel Chirico’s compensation plan. Pay expert Graef Crystal says he’s overpaid.
About 97 percent of votes cast at New York-based PVH’s annual meeting approved the company’s executive pay plan for last year, spokeswoman Dana Perlman said in an e-mail. Chirico received $18.4 million in the year ended Feb. 2, about 70 percent more than what Crystal calculates as his going rate, or the pay he should receive based on his company’s size, total return versus the Standard & Poor’s 500 Index (SPX) in its fiscal year and his tenure as chief executive. - Laura Marcinek, Bloomberg
To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net
Read more here.
No comments:
Post a Comment