Next chief executive Lord Wolfson took home £4.6m in the last year but asked for his entitlement under the retailer’s share matching plan to be shared amongst its staff.
Lord Wolfson has waived his entitlement, which was valued at around £2.4m, which will be shared amongst employees who have been with the retailer since January 2010.
Wolfson, who last month unveiled a 9% pre-tax underlying profit jump to £622m in Next’s last financial year, received a basic salary of £714,000 – up from £697,000 – with benefits and pension taking it up to £1.1m. However both the annual bonus and a pay-out from the retailer’s long term incentive plan bulked his salary to £4.6m, up £500,000 on last year.
However, group product director Christos Angelidis took home £5.4m last year as his £519,000 salary was supplemented by a sizeable bonus and share matching plan.
Finance director David Keens’ remuneration increased from £2.5m to £4.1m.