Steve Rendle, chairman, president and chief govt officer at VF Corp., logged compensation of $15.4 million last calendar year for steering the parent of Supreme, Vans, The North Encounter and more although a vogue landscape intricate by inflation, war and pandemic.
His whole compensation package represented a 2.3 percent decrease from the prior 12 months.
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As is typical for prime CEOs, Rendle’s take was built up primarily of inventory and selection awards, which together ended up valued at $10.3 million. The ultimate payout of that payment will count on hitting sure functionality targets and VF’s inventory cost, tying the CEO’s pay back to the fortunes of shareholders.
The CEO also obtained a income of $1.4 million, incentive pay of $3.2 million and other payment valued at $519,383, like $265,080 masking individual use of corporation aircraft.
In manner, the pay out and benefits are very good — Alright, terrific — at the prime, but the pressures are also powerful.
Rendle is handling a mutlibrand portfolio with inflation at 40-calendar year highs and the provide chain backups.
“The North Face has inflected, it is increasing double digits,” the CEO reported. “Timberland is inflecting. Dickies is approaching a billion [dollars in sales], obtaining considerably increased.”
Rendle reported: “We can navigate some ups and downs. The clothing and footwear enterprise has ebbs and flows. We’ve thoughtfully positioned this portfolio in the outside, energetic and workspaces.”
While he ranks as 1 of the greatest-paid executives of fashion and retail, Rendle is not going to major the list.
The CEO to defeat — on the shell out front and on line — is Amazon’s Andrew Jassy, who been given a payment bundle valued at $212.7 million very last 12 months, with 99.5 percent of that coming from stock awards.
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