The [Pounds]12m Bet That Next Execs Just Couldn't Win
Evening Standard - London › April 17, 2008
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Summary
AN executive incentive scheme that has cost the participants [pounds]1.48 million hardly sounds like a success, so it might seem perverse for the company to repeat it. Yet Simon Wolfson's cunning plan for his colleagues on the board of Next is more than a triumph of hope over experience.
Launched in 2004, when the shares were [pounds]15, the scheme invited the top executives to bet their own money; if the price averages more than [pounds]24.50 over the three months to this July, they share [pounds]12 million, tax-free. If it averages less than [pounds]20, they lose the entire [pounds]1.48 million.See the full content of this document
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The [Pounds]12m Bet That Next Execs Just Couldn't Win
With the shares at [pounds]11, they've already lost, ...
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