PARIS — Lindsay Owen-Jones, L’Oréal’s non-executive chairman, passed up his 2009 bonus of 900,000 euros, or $1.2 million at current exchange.
Owen-Jones did receive his salary for last year, which was 2 million euros, or $2.7 million.
Owen-Jones is among a growing number of bonus-waiving executives in the wake of the financial crisis. These have — in recent days — reportedly included Lloyds Banking Group’s chief executive officer, Eric Daniels, and Royal Bank of Scotland Group’s ceo, Stephen Hester.
L’Oréal ceo Jean-Paul Agon, meanwhile, refused his stock options for 2009.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styled by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)