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The Sweat Life is paying out off for Calvin McDonald, chief government officer of Lululemon Athletica Inc.
The CEO, who has promised to double the size of the company to income of $12.5 billion by 2026, observed his payment leap 25.3 % very last calendar year to $13.3 million, in accordance to the company’s proxy assertion filed with the Securities and Trade Fee.
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Most of his just take came in the kind of inventory and alternative awards, which ended up valued at a merged $8 million, even though the ultimate payout will rely on the company’s inventory rate and overall performance objectives, tying McDonald’s fortunes to the passions of shareholders.
Over and above that, McDonald also obtained a wage of $1.3 million and incentive spend of $4 million.
The CEO sketched out his bold eyesight for the brand at an analyst conference last week.
“We know how our company sweat,” McDonald informed analysts, incorporating: “We’re in the early innings of advancement.”
And portion of that arrives from identify recognition which, despite the brand’s attractiveness, is even now very low.
The corporation mentioned its manufacturer recognition in the U.S. was just 25 p.c.
“For comparison, a lot of other manufacturers in this place are at about 85 percent,” McDonald stated. “So we see that as a really exciting possibility as we continue to generate development and get much more merchandise into a lot more palms.”
Lululemon may possibly be just one the hottest fashion and retail providers in the marketplace, but McDonald, when he will get a very penny, is not the maximum compensated.
This yr, that difference will likely go to Andrew Jassy, the new Amazon CEO, who obtained fork out of $212.7 million for final yr, though 99.5 p.c of that came from inventory awards. Also close to the major of the fork out scale ended up Walmart Inc. CEO Doug McMillon, who logged pay back of $25.7 million, and Target Corp. CEO Brian Cornell, who registered compensation of $19.8 million, for the 2nd straight year.
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