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WWD – Fashion’s Talent Race Executive Pay Soars

Monday, July 30, 2012

Fashion’s Talent Race: Executive Pay Soars

By Evan Clark

THE PAY AND the perks at the top are good – very good.

Sixty-seven fashion executives logged compensation of more than $5 million last year, according to a WWD analysis of
publicly traded brands and retailers in the U.S.

A lot of that compensation is just paper, though – stock and option grants made up the majority of many executives’ pay and
pushed total compensation for the group to $880.6 million. While that’s a large number by any measure, it completely depends
on how much the 67 executives earn from cashing in all those options and grants. It could be less.

“None of them have to work for money,” said Terre Simpson, president of search firm Simpson
Associates. “It’s the drive for success and accomplishment. They work because of the
challenge; it’s not really the compensation, that’s the secondary result of their drive to be
challenged.”

And while it’s still an executive landscape dominated by men – there are only six women among
the top 67 paid fashion executives, including Jackwayn Nemerov, executive vice president of
Ralph Lauren Corp., and Carol Meyrowitz, ceo of The TJX Cos. Inc. – there are hopes that the
gender gap will narrow, Simpson said.

“In order to be a ceo, you usually are in your 40s or older. Those generations, the women and
men were treated differently growing up,” she said. “When I was brought up, girls had to behave.
You weren’t allowed to take chances. It was a different world.”

Simpson said women coming through the ranks today could be better represented in the
industry’s executive ranks.

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