WH Smith’s new incentive scheme could net CEO £3.9m

street newsagent WH Smith is planning to launch an unusual management incentive
scheme, which could see its chief executive gain £3.9m if the retailer performs

scheme, which requires approval by shareholders at an extraordinary meeting on
September 23, would allow about 40 senior employees – including chief executive
Kate Swann and executive directors – to invest up to 100 per cent of their
gross salary in shares, according to the Financial Times.

the company outperforms over the next three years, the participating staff
would receive a share award for up to five times their initial investment.

move forms part of WH Smith’s recovery strategy. The company issued a profit
warning at the start of the year and axed a number of senior management after a
lacklustre Christmas.

By Daniel Thomas

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