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£1m pay packet for Debenhams boss

Debenhams boss Sergio Bucher was paid £1m during his first year in the top job at the department store.

Bucher, who joined in October 2016 from his previous role as the vice president of Amazon Fashion Europe, was awarded £700,000 plus an additional payment of £163,409 in benefits and £140,000 in pension payments, according to the firm’s annual report. 

The chief executive unveiled his new strategy for the business, Debenhams Redesigned, in April. It focuses on experiential shopping, digital growth and driving efficiency.

He warned Debenhams faces tough comparatives over the key Christmas weeks, but said the retailer was well prepared for peak trading and was “moving in the right direction”.

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