Emanuel Chirico

Emanuel Chirico saw his pay as chairman and chief executive officer of PVH Corp. rise 7 percent to $17.2 million last year as the company’s Tommy Hilfiger and Calvin Klein businesses strengthened.

Chirico’s take included stock and options tagged at $9.1 million, although the final value of those grants will depend on how PVH’s stock price changes, according to details of the executive’s pay disclosed in a filing to the Securities and Exchange Commission.

The ceo, who has worked at the company for 24 years, received a $4 million incentive payment and a salary of $1.4 million as well as pension and other compensation.

Under new SEC rules, PVH gave information about pay at the company overall, determining that its median pay, excepting the ceo, was $16,520. The median employee was a part-time, hourly retail store warehouse associate.

Chirico’s compensation totaled 1,042-times the company’s median pay.

PVH’s sales grew 9 percent to $8.9 billion last year. Net income fell 2 percent, to $537.8 million, but earnings per share rose.

At the time results were reported, Chirico touted PVH’s dedication to its long-term vision and said that last year: “We continued to make investments that centered around areas most impacted by the changing dynamics in the industry — the growing prominence of digital, the importance of having a nimble and responsive supply chain and our ever-present commitment to driving consumer engagement.”

Over the past decade, PVH has been transformed from a company that was perhaps best known for its men’s dress shirt business to a powerhouse of American fashion.

And now that Calvin Klein and Tommy Hilfiger are settled in, the company is keeping its options open and weighing other possible deals that could compliment its existing brands.

In November, Chirico told analysts “we would love to do an acquisition” and talked about finding a “third brand that we could put on our operating platforms, Europe, North America, Asia and then Brazil.”

But dealmaking can be a fickle process and the ceo said, “It happens when it happens when the opportunities present themselves.”

More on PVH: 

PVH Forges Partnership With WWF to Protect Global Water Resources

Emanuel Chirico Wants PVH to be More Diverse, ‘Inclusive’

PVH’s Chirico Named a Father of the Year

 

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