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

Next to revive bonus plan

Next plans to reinstate an unorthodox bonus plan for directors and leading executives in an attempt to drive its share price up, according to reports in the Financial Times.

Under the new scheme, the maximum value that participants could receive is up to 13 times the initial investment, paid if the share price recovers to £20 by July 2012, a level it has fallen from since last November.

In the previous scheme, set up in 2004, participants, including chief executive Simon Wolfson, invested their own money but could lose it all if the share price fell below a certain threshold.

Shareholders voted for the new scheme in 2006 and 2007 but the renumeration committee decided it was “not appropriate” to adopt it. This year, the committee has recommended the scheme, which remains subject to shareholders approval.

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.