AUSTRALIA: Incentive Package Lifts Coles Myer Chief
John Fletcher, the new chief executive at Australia's biggest retailer Coles Myer Ltd, will be granted 2.5 million options as part of a five year incentive package to shake the company into shape.
The options over its ordinary shares will be granted in five tranches of 500,000 with a strike price of $6.33. Each tranche of 500,000 will vest on 10 September in each successive year providing performance hurdles at the end of the previous financial year are met, the company said.
These performance hurdles will be based on relative total shareholder return in the 50th percentile, or better, in the top 50 industrials, or a minimum required earnings per share growth expressed as a compound annual growth rate.
The long-term package is designed to ensure Mr Fletcher implements a long-term solution to the group's problems.
To view related research reports, please follow the links below:-
- Why do modern robotics elude sportswear makers?
- Traditional financing is a misfit for fast fashion
- Trump trade policy – Who knows what he'll do?
- Planning is key to an effective inventory strategy
- Bagir CEO says suit-maker is back on track
- US Q3 in brief - G-III Apparel, Express
- Bagir exports first trousers for H&M from Ethiopia
- Film documents Cambodia garment workers' stories
- Esquel efficiency drive continues to boost brands
- Pakistan suspends India cotton imports
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack