NEW YORK — Linda’s still looking for her $25 million, but Tommy’s already out spending his.
This story first appeared in the June 6, 2002 issue of WWD. Subscribe Today.
With such perennial favorites as ex-Warnaco chief executive officer Linda Wachner out of office and seeking in court $25 million in compensation and departed Donna Karan ceo John Idol in transition at Kasper ASL, Tommy Hilfiger finished at the pinnacle of the 2001 compensation sweepstakes with $24.9 million in salary and bonuses.
Hilfiger ceo Joel Horowitz finished second, at $12.7 million, while Ralph Lauren placed third with $6.6 million. His business reignited by his licensing arrangement with Target, Mossimo Giannulli bolted from near obscurity to fourth on the list at $4.2 million. All data are drawn from the companies’ Schedules 14-A filed with the Securities and Exchange Commission.
However ample their paychecks, both Hilfiger and Horowitz saw their incomes shrink from their 2000 levels. Lauren, Giannulli, and fifth- and sixth-place finishers Sidney Kimmel of Jones Apparel Group and Robert Margolis of Cherokee, logged raises. Just over half of the executives covered through disclosures on their firms’ proxy statements saw dips in their compensation as challenging second-half conditions, compounded by the events of Sept. 11, limited corporate profits and, with them, the potential for management pay raises.