By  on April 7, 2010

Glenn Murphy, chairman and chief executive officer of Gap Inc., saw his compensation fall nearly 6 percent in 2009, but he’ll more than make up the shortfall this year with a special bonus granted to him by the company’s compensation and management development committee.

In 2009, Murphy’s total pay fell 5.9 percent to $5 million from $5.4 million in 2008. The majority of the more than $300,000 decrease was attributable to a voluntary reduction in his salary, to $1.275 million from $1.5 million, as part of an overall cost-cutting effort undertaken because of difficult business conditions. His salary has reverted back to $1.5 million for 2010.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus