The three executive directors of FTSE 250 fashion firm SuperGroup have opted out of a pay rise and long-term incentives, claiming that they are incentivised enough by their large shareholding.
The organisation’s annual report revealed that the board, led by founder Julian Dunkerton, have frozen their pay and taken themselves out of the performance-based share plan.
A spokesman for SuperGroup said: “This is not about freezing pay. The directors have a very significant shareholding and simply made the decision not to give themselves a pay rise. They decided that they are incentivised enough.”
Executive directors James Holder and Theo Karpathios both remain on salaries of £300,000 while Dunkerton will earn the same £400,000 base pay as last year.
SuperGroup floated on the stock market in August last year for the first time. Dunkerton is the group’s largest shareholder with about 60%, while Holder and Karpathios have 30% between them.
SuperGroup currently has a market value of £760 million.
The spokesperson added: “They are probably the only directors in the FTSE250 this year not to give themselves a pay rise.”
For more articles on pay and bonuses