Debenhams Appoints Amazon.com Executive Sergio Bucher as CEO
May 26 2016 - 3:24AM
Dow Jones News
By Ian Walker
LONDON--Department store chain Debenhams PLC (DEB.LN) said
Thursday it has appointed an Amazon.com executive as its new chief
executive from Oct. 1, replacing Michael Sharp who announced last
November he would step down.
The company, which trades from 253 stores across 27 countries,
said Sergio Bucher, Vice President of Amazon Fashion Europe since
2013, will be paid a basic salary of 700,000 pounds ($784,000) a
year and participate in the executive directors bonus sheme. His
maximum bonus for his first year of employment will be 150% of
basic salary, and 100% thereafter.
He will also receive an award under the performance share plan
worth 200% of basic salary in the grant window that follows his
date of joining, reducing to 150% after the first year. In addition
he will get a pension of 20% of basic salary.
Debenhams confirmed last month that Mr. Sharp had resigned as
CEO, effective June 24, after five years in the role as originally
planned.
Mr. Sharp has a 12-month notice period that started April 14. He
will receive his normal annual salary, benefits and pension
supplement during this period. He will also be entitled to
participate in and receive an annual bonus for fiscal 2016 in line
with current terms.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
May 26, 2016 03:09 ET (07:09 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Amazon.com (NASDAQ:AMZN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Amazon.com (NASDAQ:AMZN)
Historical Stock Chart
From Apr 2023 to Apr 2024
