US: Polo's CEO to have bonus targets raised
Polo Ralph Lauren Corporation is making changes to the bonuses paid to chairman and CEO Ralph Lauren.
In a filing to the Securities and Exchange Commission on Friday (25 July), the company said that starting in fiscal 2009 - its current financial year - he will be entitled to a bonus only if 80%, rather than 50%, of the performance target has been met.
From fiscal 2010, restricted stock units will be granted to Mr Lauren on performance instead of time, and the compensation committee will have the authority to reduce his annual equity grants.
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Polo Ralph Lauren Corporation has reported a 40% jump in second quarter profit, as strong sales in Europe helped offset lower demand in its domestic market....
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