Glenn Murphy’s sacrifices in 2009 came back to him with interest in 2010.
Murphy, chairman and chief executive officer of Gap Inc., saw his overall pay package grow 18 percent last year, to $5.9 million from $5 million in 2009. After he voluntarily reduced his salary 15 percent, or $225,000, in 2009, it returned to its regular level of $1.5 million in 2010. And in appreciation of both his stewardship of the San Francisco-based firm and his willingness to earn less “given a highly uncertain business environment,” Gap’s compensation committee awarded him a special bonus of $635,000.
Although his nonequity incentive plan compensation was cut by slightly more than half to $1.7 million, he was granted $1.8 million in stock awards, versus none the year before. He received no option awards in 2009 or 2010. Other compensation expanded 18 percent to $281,000 from $163,000.
Because of fluctuating stock prices and vesting schedules, stock and option awards aren’t necessarily realized by the named executive officer, but companies are required to include them in the compensation tables when submitting proxies to the Securities and Exchange Commission, as Gap did on Tuesday.
Last year, Gap’s profits increased 9.3 percent, to $1.1 billion, while sales rose 3.3 percent, to $14.66 billion, and improved 1 percent on a same-store basis.
In a another SEC filing Tuesday, Ann Inc. reported that Kay Krill registered a 13.4 percent increase in total compensation last year, as her bonus and stock awards followed the company’s earnings trajectory upward.
Krill, president and ceo of the company previously known as AnnTaylor Stores Corp., earned a total of $10.3 million last year, up from $9.1 million in 2009. Her salary was unchanged at $1.2 million, but her bonus grew 18.9 percent to $5.2 million, from $4.3 million, and the sum of her stock and option awards was up 14.5 percent to $3.9 million, from $3.4 million, despite a 30.4 percent decline in option awards to $1.2 million.
Krill’s “other” compensation dropped to $16,000 from $101,000 in 2009. Last year, car service accounted for just under $10,000 of that total, down from $36,000 in 2009, and the reimbursement for taxes in connection with car service, nearly $29,000 in 2009, was waived entirely.
The proxy highlighted the recent improvement in Ann’s performance, noting that while its operating profit rose 352 percent and its stock price was up 74 percent last year, the total compensation for all “named executive officers, including the ceo,” was up a far more modest 11 percent and the ceo’s total compensation grew 13 percent.
In the fiscal year ended Jan. 29, the company swung to a profit of $73.4 million from a net loss of $18.2 million in 2009, while revenues increased 8.3 percent to $1.98 billion.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews