Debenhams Sergio Bucher receives 1.3 million pound pay package for 2017

London - Debenhams reportedly paid its chief executive officer Sergio Bucher 1,3 million pounds during his first year on the job, as it faces slipping profits and increasing concerns over the difficult Christmas trading period.

Bucher, who joined the team at the department store last October from Amazon Fashion Europe, was awarded nearly 900,000 pounds in addition to a one-off compensation payment of 455,184 pounds for wages he missed from Amazon Fashion Europe when he took on his role at Debenhams, according to This Is Money.

The CEO’s pay rate at Debenhams is said to be close to double the amount paid to his predecessor Michael Sharp, who received a total of 690,530 pounds in pay for 2016. News concerning Bucher’s large pay package comes as the department store warns it is set to face tough Christmas trading during its peak season, but was investing in strengthening its digital services to better serve customers during peak trading.