Summary
WOOLWORTHS is risking the wrath of unions by awarding chief executive Trevor Bish-Jones a lucrative bonus package, at the same time as asking its 30,000 staff to accept a pay freeze.
The toys and books chain is having a tough time on the High Street. Now that bidder Apax has walked away, Bish-Jones's share options are underwater. So to keep him happy, Woolies is raising his maximum bonus from 100pc to 120pc of his Pounds 480,000 salary. He is also being given a one-off share award which could pay out three times his salary in shares in 2008.See the full content of this document
Extract
Woolworths Boss Scoops Mega Bonus
Two-thirds ...
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