US: Hilfiger plans retention bonus scheme
Luxury clothing group Tommy Hilfiger may allocate funds of US$12m in a push to keep on key personnel after it is bought by Apax Partners.
Hilfiger would put the money into a retention bonus plan for top executives who remain with the business for 180 days following the completion of the acquisition deal.
Founder and top designer Tommy Hilfiger and outgoing chief executive David Dyer are not qualified for the proposed bonus scheme.
Hilfiger recently agreed to be bought by private equity company Apax for about $1.6bn.
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