Bailey receives £7.9m from Burberry in 2014/15
Chief Creative Director and CEO of Burberry Christopher Bailey has once again received a substantial sum of money from his employer.
According to Burberry's latest annual report, for 2014/15, Bailey made £7.9m in his first year as CEO, reported Fashionista. Last year, Burberry shareholders voted against the company's remuneration report after Bailey got one-off awards of close to £15m.
This year, Burberry explained that it felt it had to act to keep Bailey after he was approached by a competitor, reported The Financial Times. "Put simply, the market value for his creative talents was far in excess of what he was earning," the company says in the report.
Bailey's £7.9m was made up by a £1m salary, £424,000 in benefits and cash allowances, a £1.8m bonus, a £4.4m co-investment plan and £303,000 pension. There hasn't yet been any reports on shareholders' reactions to Bailey's remuneration.
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