WEXNER GETS DOUBLE THE BONUS
NEW YORK — Limited chief Leslie Wexner earned a bump in his 2001 salary and a big increase in his annual bonus.
As reported in a Schedule 14A Proxy Statement filed Monday with the Securities and Exchange Commission, Wexner’s salary increased 2.5 percent to $1.4 million from $1.36 million in 2000. Last year’s salary was disbursed over a 53-week-year.
Wexner’s bonus more than doubled in 2001, growing to $1.7 million from $628,992 in 2000. The bonus is pegged to the aggregate of performance-based incentive compensation for the spring and fall seasons.
The ceo’s total compensation for the year amounted to $3.4 million. That includes $4,368 in reimbursement of certain taxes on the non-qualified retirement plan, as well as $266,232 in matching employer contributions.
For fiscal 2001, the Columbus, Ohio-based retailer reported net income swelled 37 percent to $327 million, or 75 cents a diluted share, up from $238 million, or 54 cents, in fiscal 2000.