"Next's cheif secures £1m bonus"

I found this article about Next while doing my weekly newspaper reading for my fashion narrative newspaper file. I thought it would make interesting reading on my blog....however, I expecct the print to be a bit small, so i will summarise.....




key points:

• Chief exec Simon Wolfson has received a £1m bonus, more than doubling his pay, after a controversial decision to to reset the criteira it uses to award bonuses
• In September 2008, as the economy turned down, Next revamped its executive pay plans, including the criteira for paying bonuses, amid turmoin in the high street. This included abandoning a demanding growth target, as part of a plan to enable retaining staff in the tough economic conditions.