Mike Ashley’s New Planned Bonus Structure
After seeing a previous scheme withdrawn that would have delivered Mike Ashley a personal £26m payout, the Sports Direct top brass are set to come back this coming week with a new strategy to win over investors AND deliver a new bonus structure.
Next month, the four year target based structure implemented in 2009, will pay out the second and final bundles of shares to 2,000 or so of SD’s 23,000+ workforce. What this equates to is that employees earning £20,000 a year back in 2009, will now pick up 12,000 shares each, valued currently at more than £68,000!
Something for you to ponder the next time you are trying to find an escape route out of a Sports Direct store clutching your budget socks.
SD’s latest full year figures will also be announced this coming week and staff will be keen to check that they have hit another target on the way to picking up the pot of gold which will be theirs if the 2011 four year incentive scheme continues to hit all of its targets.
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