Superdry co-founder James Holder is expected to receive at least £300,000 a year in consultancy fees from the brand, the Sunday Telegraph has reported.
As expected, chairman Peter Bamford, chief executive Euan Sutherland, chief financial officer Ed Barker and chairman of the remuneration committee Penny Hughes resigned with immediate effect.
Sutherland is reportedly entitled to a full year’s salary of £728,000 despite resigning, which means he will have been paid more than £10m in total for less than five years at the business.
Superdry’s current creative director, former Nike executive Phil Dickinson, who joined the business in January, has not yet decided whether to stay, sources told the Sunday Telegraph.
Superdry has been contacted for comment.