Majestic Wine chief executive officer Rowan Gormley has requested that his share award bonus be distributed among 493 eligible employees, potentially netting each member of staff approximately £14,000.
The share awards will take the form of a one-off payment to current employees who are members of the organisation’s long-term incentive plan, which is available to staff at store manager level or above.
Delivery of the bonus is dependent on the group achieving its total shareholder return performance criteria between the financial years 2017 to 2019, with the award vesting between March 2019 and 2021.
Gormley currently owns 4,528,881 shares, which he acquired through the sale of Naked Wines to Majestic for £70 million in 2015.
Gormley (pictured) said: “We are committed to delivering shareholder value by doing the right thing for our people, customers and suppliers. [The] share awards show that we’re serious about aligning our people and our shareholder’s interests, we are committed to delivering our transformation plan [and] we are focused on investing in our people to reward the delivery of sustainable growth in the whole group.”
