USA: No Bonus For Gap Chief Amid Weaker Sales
The chief executive of troubled clothing retail giant Gap Inc, Millard Drexler, did not receive a bonus last year after the company failed to hit several financial performance goals.
Drexler, who collected a $3.3 million bonus in 2000, missed out on a similar windfall in 2001 and also saw his salary fall just under four per cent amid weaker sales and a net loss of $7.8m.