Next chief executive Simon Wolfson’s pay almost doubled last year after he received a £1m performance bonus.
In the year to the end of January 2010, Wolfson’s pay package totalled £1.74m, with £340,000 of his bonus paid in Next shares which will be deferred for two years. In the prior year to January 31, 2009, Wolfson’s total pay was £831,000 which included a bonus of £123,000.
Next’s finance director David Keens also enjoyed a bumper pay rise taking home £936,000 in the year to the end of January 2010 compared with £560,000 the year before. Product director Christos Angelides’ pay grew from £585,000 to £980,000.
In its full year to January 30, Next’s pre-tax profits jumped 18% to £505m. Group revenues rose from £3.27bn to £3.4bn. Like-for-like sales were 0.5% ahead for the year.