Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

French Connection board pockets £1.18m

French Connection’s board took home £1.18m last year, an increase of £279,000 in the previous 12 months.

In its financial report for the full year 2013/14, published this week, French Connection revealed that chairman and chief executive Stephen Marks received a total of £402,000, a £50,000 increase from the year before, while operations director Neil Williams’ pay rose by £43,000 to £305,000.

Incoming group finance director Adam Castleton has taken up the position on a salary of £166,000, replacing Roy Naismith who left the role a year ago. Naismith received a total of £188,000 upon stepping down.

French Connection is in a turnaround period following a difficult time, culminating in the loss of £7.2m in the 12 months to the end of January 2013.

In its latest results the retailer revealed a weak first half of the year followed by a much stronger six months in which it made a profit of £1.7m, shaving is overall losses down to £4.4m for the year.

As part of the ongoing turnaround plan at French Connection the board has urged shareholders not to take a dividend for the year, and will make the same case at the company’s AGM on May 15. In the report a statement by the directors said that the priority was in “retaining current cash reserves to support the turnaround of the business”.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.