Peter Cowgill, the executive chairman of JD Sports, is set to receive a one-off bonus of £6m in recognition of his “exceptional performance” at the helm of the sportswear giant.
The JD Sports remuneration committee has recommended the payment as Cowgill has not received any long-term awards under the incentive plans it has had in place for the past two years, the Financial Times reported.
It also noted that Cowgill has been executive chairman since 2004, and has not received pensions contributions since 2013.
The committee said: “The payment is, therefore, being recommended in part to compensate the executive chairman for this and in part to recognise the exceptional performance.”
Cowgill would not receive any additional bonuses.
Shareholders will vote on the proposed bonus at the retailer’s annual general meeting on 3 July.