Burberry CEO Christopher Bailey Gets Massive Pay Cut Due to Lack of Company Growth

Ouch.

Fashion
7,457 Hypes 0 Comments

According to an annual report released this week, Burberry, the largest luxury goods maker in the UK failed to experience any growth. As a result, CEO Christopher Bailey’s salary was reduced from £7.5 million (approximately $10.9 million USD) to £1.9 million (approximately $2.7 million USD). He also did not receive any bonus or incentives as the company missed its target earnings. It is assumed, the decline is related to Bailey’s overly-ambitious efforts to perform the roles of both CEO and Chief Creative Officer since last May. According to chairman John Pearce, “Our overall approach to incentive structures for all staff, including senior management, is based on performance.”

Read Full Article

What to Read Next

Burberry Is Shutting Down All of Its Diffusion Labels
Fashion

Burberry Is Shutting Down All of Its Diffusion Labels

Say bye to Burberry Prorsum, Sport, Brit…

Going Behind the Scenes at Christopher Bailey's Final Burberry Fall/Winter 2018 Show
Fashion 

Going Behind the Scenes at Christopher Bailey's Final Burberry Fall/Winter 2018 Show

Moving on after 17 years in charge.

Burberry and the Art of Tenacity
Fashion 

Burberry and the Art of Tenacity

We speak to the foremost gentleman on how he keeps it together in a mad world.


Burberry Celebrates a Century of Incredible Photography With New London Exhibition
Art

Burberry Celebrates a Century of Incredible Photography With New London Exhibition

“Here We Are” opens in September.

Samsung Wants to Have Bendable, Foldable Smartphone Screens Sooner Than You Think
Tech

Samsung Wants to Have Bendable, Foldable Smartphone Screens Sooner Than You Think

The future of smartphones may be flip phones.

David Guetta Remixes Fat Joe & Remy Ma's "All The Way Up"
Music 

David Guetta Remixes Fat Joe & Remy Ma's "All The Way Up"

Guetta departs from his usual electro house sound with the assistance of GLOWINTHEDARK.

Jay Worthy, G Perico & Cardo Revisit the Classic West Coast Sound on "I Ain't Trippin"
Music 

Jay Worthy, G Perico & Cardo Revisit the Classic West Coast Sound on "I Ain't Trippin"

This one’s for fans of Too $hort and DJ Quik.

Kimbo Slice Has Passed Away
Music 

Kimbo Slice Has Passed Away

The 42-year-old “The King of the Web Brawlers” was best known for his viral street-fighting videos.

A Mysterious Aphex Twin 'Cheetah' EP Teaser has Surfaced
Music 

A Mysterious Aphex Twin 'Cheetah' EP Teaser has Surfaced

Please be sure to read the owner’s manual carefully before attempting to operate the ‘Cheetah EP.’


This Friends and Family adidas Originals NMD Is Probably the Most Limited Release Yet
Footwear

This Friends and Family adidas Originals NMD Is Probably the Most Limited Release Yet

Named “Firestarter” and limited to 300.

CLSC's Josh Vides Unveils the C.B.L. "Summer of Lust" Lookbook
Fashion

CLSC's Josh Vides Unveils the C.B.L. "Summer of Lust" Lookbook

Featuring a tribute to the iconic In-N-Out Burger.

MISBHV's Season 2 Swimwear Puts an Edge on Poolside Cool
Fashion

MISBHV's Season 2 Swimwear Puts an Edge on Poolside Cool

Rebellious ethos realized in bikinis.

United Airlines Kicked Vic Mensa Off Flight for Talking to Depressed Fan on the Phone
Music 

United Airlines Kicked Vic Mensa Off Flight for Talking to Depressed Fan on the Phone

The SAVEMONEY rapper is not pleased at all.

Kuro 2016 Fall/Winter Collection
Fashion

Kuro 2016 Fall/Winter Collection

Japanese denim at its most eclectic.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.