ALL THE NUMBERS: Stefan Larsson’s compensation at Ralph Lauren Corp. was revealed Thursday in a Securities and Exchange Commission filing. The new president and chief executive officer, who joins Nov. 16, will receive an annual base salary of not less than $1.25 million and will also be entitled to participate in the company’s bonus program. He has an annual target bonus opportunity of 300 percent of his fiscal-year salary earnings and a maximum bonus opportunity of 450 percent of his fiscal year earnings, which for the company’s current fiscal year (2016) will be prorated based on his effective start date.
Beginning in fiscal year 2017, Larsson will be granted an annual equity award with a value of $7.5 million. In addition, he will receive a one-time equity award with a target value of $9.125 million to be granted on or before the last day of the fiscal quarter in which he joined.
Larsson also will receive a one-time cash sign-on bonus of $2.75 million. If he doesn’t receive the expected Oct. 1 vesting from his current employer, The Gap Inc., due to circumstances outside of his control, he will get $4.35 million to be paid within 30 days following his start date, the filing stated.
The agreement also provides Larsson with a relocation allowance of $100,000 and he will be entitled to a car allowance of $1,500 a month.
Most recently, Larsson had been global president of Old Navy Inc., a division of The Gap, and before spent 15 years at Swedish retailer H&M.
In other news, Mitchell A. Kosh retired from Ralph Lauren Corp. and resigned as the company’s executive vice president and chief administrative officer, effective Oct. 15.
