Burberry boss Marco Gobbetti handed £3.7m worth of shares (but he can’t cash them in until 2024)
Burberry’s boss has been handed £3.7million worth of shares.
Marco Gobbetti will be given 161,849 shares in the luxury fashion brand. Half of them will vest after three years, with the remainder vesting in four.
Gobbetti will be unable to sell the shares until 2024.
Burberry boss Marco Gobbetti will be given 161,849 shares in the luxury fashion brand, which were worth just under £3.7m
The 59-year-old was appointed chief executive of Burberry in July 2017, taking over from Christopher Bailey who was also the company’s head designer.
Since joining Burberry, Gobbetti has recruited fellow Italian Riccardo Tisci as chief creative officer.
Tisci’s recent work includes the new Monogram collection, inspired by the fashion giant’s founder Thomas Burberry and featuring model Gigi Hadid.
Tisci, 43, is a former colleague of Gobbetti who was chief executive of Givenchy from 2004 to 2008.
Gobbetti has tried to take Burberry more upmarket while closing stores and focusing on online.
He pocketed £3.9million in pay last year, including a basic salary of £1.1million and a bonus totalling £1.3million.
The remainder was made up of a mix of pension, benefits and sharebased awards