LIZ CLAIBORNE BONUSES: Liz Claiborne Inc.'s earnings and stock price are down, but top executives received cash bonuses in 2007, according to a filing with the Securities and Exchange Commission. Chief executive officer William L. McComb told WWD that Claiborne's board tied bonuses to "very specific goals around developing strategy and achieving strategy. In thinking about the year we had before us, it was very important that management was not incentivized to do the wrong things for one year, but rather lay the groundwork for long-term investments and restructuring."
Based on those goals, the compensation committee gave Claiborne's top executives 25 percent of their potential cash bonuses. "Obviously, the operating profit component affected not hitting our goals," McComb said.
In his first full year as ceo, McComb got a $325,000 bonus. He received a $400,000 signing bonus for the two months he served in 2006. Chief financial officer Andrew Warren, hired last year, received $431,000 that was partly a signing bonus. Chief operating officer Michael Scarpa got $168,750, and Lawrence D. McClure, senior vice president of human resources, $95,625.
High-ranking executives did not get bonuses in 2006, which were tied to earnings goals.
NIKE + IPOD COMING TO A GYM NEAR YOU: Nike and Apple are partnering with major gym equipment manufacturers, including Life Fitness and Precor, to make their cardio equipment Nike + iPod compatible. That means gym members will be able to track workouts by plugging their iPods into the equipped treadmills, ellipticals, stationary bikes and stair climbers. At participating gyms, including 24 Hour Fitness nationwide and Virgin Active Health Clubs internationally, members will be able to use the technology to track their workouts and log their data on nikeplus.com. The data converts to "CardioMiles" so exercisers may set goals and participate in challenges with runners and with users of other cardio equipment, and the information also can help personal trainers at gyms.
LACOSTE MARKETING PROMOTIONS: Lacoste is promoting personnel in its marketing department. Daniela Bocresion, Lacoste USA's vice president of merchandising for the last five years, has been named senior vice president of merchandising and marketing. "This change has allowed us to combine all of our merchandising, retail visual and marketing under one group leader," Robert Siegel, Lacoste USA chief executive officer and chairman, said. Bocresion replaces Tamara Rosenthal, who is leaving the company. In addition, Kristin DiCunzolo, public relations and advertising manager, has been appointed director of marketing, a new post. Changes are effective March 10.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"