By  on March 28, 2006

NEW YORK - Bonuses may be flowing on Wall Street but not at Gap Inc. The San Francisco-based specialty retailer's poor 2005 performance kept bonuses and salary increases virtually nil compared to 2004, according to a proxy statement filed by the company Tuesday listing compensations for its top five highest paid executives.Paul Pressler, Gap Inc. chief executive officer, did not get a bonus and saw no change in his base salary. It stayed flat with 2004 at $1.5 million. Pressler was granted 500,000 in options valued at $4.17 million. Jenny Ming, president of the Old Navy division, also saw no bonus and no salary increase. Her salary remained the same at $1 million.Cynthia Harriss, president of Gap North America division, received a "modest" bonus of $59,853, but that was based on about the first third of 2005 when she successfully led the outlet division, according to the filing. Harriss's 2005 salary was $715,961. In 2005, she was with Disney.For the complete story, see tomorrow's WWD

To access this article, click here to subscribe or to log in.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus