Top management changes at Jones Apparel Group Inc. and Gap Inc. in 2007 boosted the pay of individual executives.
Wesley R. Card, Jones' president and chief executive officer, received total compensation of $4 million, compared with $2.6 million in 2006. His package included a base salary of $1.3 million and stock awards of $2.5 million. He was not awarded a bonus.
Card was appointed ceo on July 12, 2007, after his predecessor, Peter Boneparth, left the company. Card had been chief operating officer and chief financial officer.
Boneparth's outstanding restricted stock awards became vested after his employment ended on July 12, 2007. He earned $16.9 million last year, which included a base salary of $1.3 million and stock awards of $4.3 million. He was not awarded a bonus.
Sidney Kimmel, Jones' chairman, was paid a total of $1.4 million in 2007, which was on par with 2006. He received a base salary of $1.2 million and "other compensation" totaling $172,895.
At Gap, Glenn Murphy, chairman and ceo, earned a total of $6.3 million, which included a base salary of $755,769, stock and option awards equaling $3 million, and a bonus of $2.1 million.
Murphy replaced Robert Fisher, former chairman, interim president and ceo, in August 2007. Fisher was compensated as chairman and a non-employee director, but did not receive additional compensation for serving as interim president and ceo. Fisher earned $290,000, compared with $299,791 in 2006.
Marka Hansen, president of Gap North America, received total compensation of $4.5 million, compared with $2.6 million in 2006. This included a base salary of $900,000 and stock and option awards of $2.2 million. Hansen was not awarded a bonus.
Dawn Robertson, president of Old Navy, earned a total of $3.4 million, compared with $903,623 a year earlier. This included a base salary of $900,000 and stock and option awards of $1.5 million. She did not receive a bonus.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)