The company detailed the salaries of its top executives Monday in its proxy filing with the Securities and Exchange Commission.
Horowitz joined the company in October 2014 as at the brand president of Hollister, the younger sibling of the retailer’s core Abercrombie & Fitch brand. She was promoted to president and chief merchandising officer of the entire company in December 2015, and is viewed by some as a strong possibility to become the company’s next chief executive officer.
Horowitz had an annual base salary of $1 million in 2015, and stock awards, option awards and non-equity incentive plan compensation added in part to the total mix to get to the $4.8 million compensation package. That’s an 8.1 percent increase from the $4.4 million she received in total compensation in 2014. The 2014 package included a base salary of $267,885 — she was on the job for essentially just two months — a bonus and stock awards.
Christos E. Angelides, the former brand president for the core Abercrombie & Fitch brand, also joined the company in October 2014. He left in December 2015. His total compensation slipped to $8.6 million in 2015 from $9.4 million in 2014. His 2014 compensation package included stock awards of $7.6 million, which was just $1.5 million in 2015, while his 2015 compensation package included severance of $5.5 million.
Jonathan E. Ramsden, chief operating officer, saw his compensation package double in 2015 to $6.2 million from $3.1 million in 2014. His annual base salary was essentially the same at nearly $1 million in both years. One difference is a stock award of $3.4 million in 2015 compared with just $1.4 million a year earlier. Another difference in 2015 was the award of $1 million in non-equity incentive plan compensation.
Arthur C. Martinez, as non-executive chairman since Jan. 27, 2014, received an annual retainer of $200,000 for board service, and a grant of restricted stock units having a market value of $100,000. When the board on Dec. 8, 2014 appointed Martinez executive chairman and formed an office of the chairman, he was not given any additional compensation. On April 20, 2015, the board’s recognition of additional time commitments by Martinez due to expanded responsibilities awarded him additional compensation, which will end when the company names a new chief executive officer. The additional compensation includes an another annual cash retainer of $625,000, plus additional restricted stock units having a market value of nearly $1.9 million.