Leslie Wexner, chairman and chief executive of Limited Brands Inc., saw his total compensation fall by 27.2 percent last year, thanks mostly to a sharp drop-off in payouts under a performance-based incentive program.
Wexner's 2007 take of $6.8 million included a salary of $1.8 million, stock awards and options valued at $2.8 million and $1.3 million in company-paid security services, according to a filing with the Securities and Exchange Commission.
The chief's payout under the incentive program, which is based on the company's operating income, fell to $437,000 from $3.2 million in 2006.
Even though he sits in the corner office, Wexner wasn't the company's top earner last year.
Compensation for Sharen Turney, executive vice president and ceo of the Victoria's Secret brand, shot up 205.2 percent to $7.1 million last year, largely due to a bonus of $857,000 and stock option awards valued at $3.4 million.
A couple of former executives also out-earned Wexner last year.
Leonard Schlesinger, who resigned his post as vice chairman and chief financial officer in November, registered a 26.7 percent rise in pay to $8.4 million.
Jay Margolis, who left in July when the company sold Express and was the former group president of apparel, saw his compensation increase 62.6 percent to $7.6 million. His take included a $1.3 million retention bonus in connection with the Express.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
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For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)