- New Look boss Anders Kristiansen has bagged a £2.2m bonus following the sale of the fashion retailer
- Kristiansen is among a group of New Look employees that have shared a £4.8m bonus
- Brait, a South African investment group, bought a 90% stake in New Look for £780m.
New Look boss Anders Kristiansen has picked up a £2.2m bonus after the sale of the fashion retailer nearly two years ago.
Kristiansen was one of seven executives, including New Look founder Tom Singh, and a project team of 35 staff members, who shared a bumper £4.8m “exceptional bonus” after the sale of the fashion retailer to South African investment group Brait in May 2015.
Kristiansen’s one-off bonus swelled his total remuneration last year to £3.1m, from £900,000 the year before, The Times reported.
New Look slashed its pre-tax losses to £900,000 in its most recent half year to September 24, although the year previously it was hit by an exceptional charge of £93.2m relating to Brait’s acquisition and bond refinancing.
However, during its most recent half, New Look’s adjusted EBITDA tumbled 28.6% to £86.9m and like-for-likes plunged 8.4%.