Stefan Larsson’s PVH Paycheck
Stefan Larsson’s return to the c-suite as president of PVH Corp. also means a return to executive-level pay. When Larsson, 44, takes on the new role June 3, he will start with an annual salary of $1.2 million and a bonus that will be at least 150 percent of that salary, pro rated since he’s joining the company after the start of its fiscal year in early February, according to a regulatory filing Wednesday. All of the company’s brands, including Tommy Hilfiger and Calvin Klein, will report to Larsson. The newly minted president will also receive performance stock units under the company’s incentive plan, as well as non-qualified options and restricted stock units — which all together could boost his overall compensation by $3.75 million or more. The value of the stock awards might fluctuate significantly given vesting schedules and changes in the company’s share price. Larsson is set to spend three to four years learning the company and then is expected to step up and become chief executive officer, succeeding Emanuel Chirico, who is ceo and chairman and is expected to become executive chairman. The employment contract also specifies if any other person is named ceo, Larsson has the right to resign forFollow WWD on Twitter or become a fan on Facebook.
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