|
|
Article: PAYDAY AT GUCCI: $6.5M FOR FORD, $2.7M FOR DE SOLE.(Gucci Group N.V.)
- Article from:
- WWD
- Article date:
- June 17, 2003
- Author:
CopyrightCOPYRIGHT 2003 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW YORK -- Luxury pays.
That's clear from the Gucci Group NV's 2002 annual report in which it disclosed that star designer Tom Ford received total compensation last year of $6.5 million, of which $4.7 million was in salary and another $1.8 million in bonus. The bonus was guaranteed as part of his employment contract, which expires in June of next year. Ford's year-ago compensation was not given since he was not part of the management committee in 2001.
Ford's pay was more than double chief executive officer Domenico De Sole's, who took home $2.7 million in salary and no bonus. That's down 56.4 percent from the $6.2 million De Sole earned last year, ...