Ralph Lauren’s annual compensation came roaring back and hit $22.6 million in this past fiscal year as the designer’s incentive pay was reinstated.
Lauren, who is executive chairman and chief creative officer of Ralph Lauren Corp., received incentive pay of $9.6 million, a salary of $1.8 million and perks as well as stock awards valued at $11 million. (The ultimate value of those awards will depend on stock price fluctuations and vesting schedules).
All told, Lauren’s compensation represented a 73 percent jump from his fiscal 2017 pay of $13 million. That year, he and the compensation committee of his company’s board agreed that he would forego his incentive pay.
Lauren recently told investors that he was not thinking of retiring and laid out a plan to guide his company over the next five years.
Despite his hefty payday, Lauren was not the most highly compensated executive at the firm. That was Patrice Louvet, who reeled in $23.8 million during his first year as president and chief executive officer. His take included a salary of $937,500, $4 million in incentive pay, a $3.4 million bonus, perks and stock awards valued at $15.3 million.
Louvet’s predecessor, Stefan Larsson, who left the company in May 2017, received total pay of $5.2 million, including a salary of $100,962, incentive pay of $443,438 and other severance payments of $4.6 million.