PVH Pay: Stefan Larsson's Compensation Revealed
, CEO of PVH Corp., saw his compensation drop 17.5% to 12.1 million last year, according to the company's proxy statement filed with the Securities & Exchange Commission.
Most of the CEO's compensation came from valued stock and option awards at $8 million at filing, though Larsson's actual take will depend on the stock's performance – linking his own return to shareholder fortunes.
He also received $2.2 million in incentive bonus and a salary of 1, $3 million plus other forms of compensation.
Related GalleriesLarsson, who took over as head of parent company Tommy Hilfiger and Calvin Klein in 2021, transformed le with its PVH+ plan, which focuses on staple looks, or "hero" products, and backs them up with high-profile marketing.
"We are in the first phase of this journey and believe we are well positioned to win," Larsson told shareholders in the proxy.
Larsson and PVH started getting a bit more credit for the approach last month, when fourth quarter adjusted earnings per share were $2.38, beating analysts' forecast of $1.65, while revenue grew 9% at constant currencies, excluding the impact of the war in Ukraine.
"Throughout the year we experienced unprecedented external headwinds that affected the global economy, our industry and our business. , the war in Ukraine, the strength of the U.S. dollar and inflation rates around the world for decades, and the ongoing disruptions from COVID-19,” Larsson told shareholders. "Despite an increasingly challenging macro environment, our Calvin Klein and Tommy Hilfiger businesses continued to demonstrate underlying strength, underpinned by great products linked to impactful consumer engagement. We exited 2022 and are entered 2023 with significant momentum that we are excited to build on."
, CEO of PVH Corp., saw his compensation drop 17.5% to 12.1 million last year, according to the company's proxy statement filed with the Securities & Exchange Commission.
Most of the CEO's compensation came from valued stock and option awards at $8 million at filing, though Larsson's actual take will depend on the stock's performance – linking his own return to shareholder fortunes.
He also received $2.2 million in incentive bonus and a salary of 1, $3 million plus other forms of compensation.
Related GalleriesLarsson, who took over as head of parent company Tommy Hilfiger and Calvin Klein in 2021, transformed le with its PVH+ plan, which focuses on staple looks, or "hero" products, and backs them up with high-profile marketing.
"We are in the first phase of this journey and believe we are well positioned to win," Larsson told shareholders in the proxy.
Larsson and PVH started getting a bit more credit for the approach last month, when fourth quarter adjusted earnings per share were $2.38, beating analysts' forecast of $1.65, while revenue grew 9% at constant currencies, excluding the impact of the war in Ukraine.
"Throughout the year we experienced unprecedented external headwinds that affected the global economy, our industry and our business. , the war in Ukraine, the strength of the U.S. dollar and inflation rates around the world for decades, and the ongoing disruptions from COVID-19,” Larsson told shareholders. "Despite an increasingly challenging macro environment, our Calvin Klein and Tommy Hilfiger businesses continued to demonstrate underlying strength, underpinned by great products linked to impactful consumer engagement. We exited 2022 and are entered 2023 with significant momentum that we are excited to build on."
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