- Angela Gonzalez-Rodriguez |
It turned out to be true that it´s better later than never for Burberry's outgoing CEO. Christopher Bailey has received over 215,000 shares in the business, with a total value of 3.5 million pounds.
The chief creative and chief executive of Burberry has been granted 215,318 shares at an aggregate price of 16.60 pounds a share. The shares award was part of Bailey´s delayed grant of his latest incentive scheme.
In fact, these shares should have been awarded last May, when Burberry’s remuneration report was published, but they were delayed as Burberry was introducing a three-year growth plan that aims to cut costs and improve profits, recalls ´The Financial Times´.
Bailey is one of a number of Burberry executives that have been awarded performance-contingent share packages in 2017, after the fashion retailer postponed its rewards scheme last year.
Fuelled by a surge of wealthy tourists attracted to London by the cheaper Pound price tags, Burberry’s sales improved by 40 percent over the last quarter of 2016. Meanwhile, revenue grew by 4 percent and like-for-like sales added 3 percent.