Art Peck might be leaving Gap Inc. amid complaints about performance, but his pay package skyrocketed during the four years he led the specialty retailer as president and chief executive officer.
Back in 2015 — his first year in that position — his total compensation started at $6.1 million and rose steadily, with his annual take rising to $8.9 million and then $15.5 million. By 2018, his pay package stood at just under an eye-watering $21 million, the same year that the company’s share price sank 21 percent.
That compensation number made him the fourth-highest paid fashion and beauty executive last year. In first place was Fabrizio Freda, The Estée Lauder Cos. Inc.’s president and chief executive officer, whose total compensation package added up to $48.8 million. Behind him were Walmart Inc.’s president and ceo Doug McMillon and Ralph Lauren Corp. founder Ralph Lauren, at $23.6 million and $22.2 million, respectively.
While the pay packages are certainly eye-popping, the numbers can also be deceptive as they’re made up of a mixture of cash and stocks.
In particular, the full value of the stock and options may never be realized due to fluctuations in stock prices and vesting schedules.
In Peck’s case, his 2018 compensation was made up
Back in 2015 — his first year in that position — his total compensation started at $6.1 million and rose steadily, with his annual take rising to $8.9 million and then $15.5 million. By 2018, his pay package stood at just under an eye-watering $21 million, the same year that the company’s share price sank 21 percent.
That compensation number made him the fourth-highest paid fashion and beauty executive last year. In first place was Fabrizio Freda, The Estée Lauder Cos. Inc.’s president and chief executive officer, whose total compensation package added up to $48.8 million. Behind him were Walmart Inc.’s president and ceo Doug McMillon and Ralph Lauren Corp. founder Ralph Lauren, at $23.6 million and $22.2 million, respectively.
While the pay packages are certainly eye-popping, the numbers can also be deceptive as they’re made up of a mixture of cash and stocks.
In particular, the full value of the stock and options may never be realized due to fluctuations in stock prices and vesting schedules.
In Peck’s case, his 2018 compensation was made up