Burberry CEO Angela Ahrendts becomes first woman to top FTSE 100 pay league
Angela Ahrendts, CEO of Burberry, has become the first woman to rise to the top 100 of Britain’s highest paid executives. Ms Ahrendts, a native American has transformed the brand into a £6.3bn fashion powerhouse following her appointment in 2006. In 2012, Angela Ahrendts took home £15.6m last year through a mixture of pay, bonus, cashing-in shares and a clothes allowance.
Ms Ahrendts’ salary in 2012 was £990,000 and her bonus was £1.98m, both of which were unchanged, however, she enjoyed a large jump in her pension contributions and a £387,000 “cash allowance” which includes a clothing allowance on top of her staff discount, and money relating to her “relocation” package dating to when she moved to Britain in 2006. It is understood this includes children’s school fees and some travel. Her total pay packet was £3.68m, up 4pc.
The news comes ahead of a new study revealing that chief executives’ pay in general has soared by 10% over the past year, sparking outrage. An annual survey by analysts Manifest and pay consultants MM&K showed that pay for performance “was still not working”, with average chief executives’ pay increasing to over £4.2 million. Research among more than 580 leading companies revealed that the UK’s top 100 chief executives were paid £425 million in 2012, up by £45 million, or 10%, from 2011.