InvestSMART

DJs eyes exec salaries

Retailer moves to cap fixed pay, cut base fees for directors ahead of tough year.
By · 18 Oct 2013
By ·
18 Oct 2013
comments Comments
Upsell Banner

In anticipation of a tough year ahead, David Jones (DJS) has capped the fixed remuneration of its executive and reduced base fees for non-executive directors, The Australian Financial Review reports.

According to the newspaper, the retailer has also introduced updated performance measures into its short-term incentive plan.

The AFR reports the executive remuneration of chief executive officer Paul Zahra and his executive team will be flat this year, while base fees for non-executive directors will be reduced by 17%.

The newspaper reports, brokers are tipping a decline in the retailers net profit of up to 16% as higher gross margins and a cost savings drive fail to offset a forecast 50% decline in earnings from its credit card business

Share this article and show your support
Free Membership
Free Membership
Staff Reporter
Staff Reporter
Keep on reading more articles from Staff Reporter. See more articles
Join the conversation
Join the conversation...
There are comments posted so far. Join the conversation, please login or Sign up.