US: Gap CEO’s pay nears US$20m
Gap CEO Paul Pressler was paid nearly US$20m in salary and stock awards in 2005 - but received no bonus as the company failed to meet financial targets.
Pressler has been in charge at apparel giant Gap since 2002. But in 2005 he failed to receive a bonus for the first time, taking home an annual salary of $1.5m.
However, the company also awarded him stock options of $15.2m and paid him $2.57m in another stock deal which saw previous stock options paid off and reissued at market prices.
The company's profits fell by more than 3% in the last fiscal year amid falling sales and reports that Gap was failing to respond quickly enough to changing consumer trends. Shares fell 16% and several executives left the company.
In fiscal 2004, Pressler was paid $7.9m in salary, bonus and stock options.
Help test our new apparel sourcing tool.
In this, her second report on Thailand's textile industry, Niki Tait looks at projects aimed at preparing Thai manufacturers for the global market and assesses the sector's post-quota future....
Textiles and clothing make up Thailand's largest manufacturing industry, with more than 4,500 factories employing over one million people. The sector accounts for approximately 20 per cent of total em...
Feet are going to be warm and cosy next winter. Fur, both real and synthetic, was all around at the latest GDS shoe fair in Germany, on the inside and outside of shoes as well as boots, writes Penny L...
Apparel giant Gap Inc has published its 2004 social responsibility report, in which it underscores its ongoing commitment to improving conditions in both its own sourcing base and throughout the globa...
Gap Inc yesterday said sales at stores open at least one year were flat in June, ending seven straight months of same-store sales declines....
Business analytics company Appian Analytics Inc has signed an agreement with clothing giant Gap Inc to provide business analytics and reporting services for monitoring performance across Gap brands in...
Apparel giant Gap Inc says it will open two branches of its Banana Republic chain in Tokyo later this summer....
US apparel giant Gap Inc has reported a slump in first-quarter income, after its namesake division saw poor sales of women's spring collections....
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- What TTIP might mean for US, EU textiles & apparel
- Where next for Corporate Human Rights Benchmark?
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Sears has "substantial doubt" of future
- World Bank commits $57bn to sub-Saharan Africa
- Target unveils "ambitious" store re-design plans
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective