Mark Parker’s Pay Day
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Mark Parker saw his compensation sprint ahead at Nike Inc. last fiscal year.
The chairman, president and chief executive officer’s compensation totaled $14 million for the fiscal year ended May 31, an increase of 48 percent.
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Parker’s take included a salary of $1.7 million and $4.1 million in incentive pay, but the majority of his compensation came in the form of stock and option awards, totaling $8 million. (He might not see the full value of those awards given changes in the company’s stock price).
Last month, the company logged fourth-quarter sales of over $10 billion — breaking the 11-digit mark in a quarter for the first time. Profits, however, fell to $989 million from $1.14 billion as the company spent more on marketing and product launches and weathered a higher tax bill.
While Parker’s pay package is big, it’s not the largest in fashion. A WWD study this week of the top earners in retail, apparel and beauty found Fabrizio Freda, ceo at The Estée Lauder Cos., in the lead, with annual compensation of $48.8 million.
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