Chiefs penalised for retailer's poor performance
Gap Inc has pulled the plug on its executives' bonuses because of the retailer's poor performance.

Gap chief executive Paul Pressler received no bonus for the financial year ending January 28, compared with the US$1.1 million (£630,000) bonus he received the year before. His salary remained unchanged at US$1.5 million (£859,200).

Jenny Ming, president of Gap subsidiary Old Navy, and chief financial officer Byron Pollitt also received no bonus.

Gap's sales were down 1.5 per cent to US$16.02 billion (£9.18 billion) for the last financial year.

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