Christopher Bailey sells his Burberry shares
CEO of Burberry cashes in thousands of shares for £5.2 million
Christopher Bailey has only been CEO of Burberry for four months, but he is already £5.2 million richer, having sold 68,667 of his shares with the company.
"Christopher Bailey has exercised the option on a number of shares that he was awarded during his time as chief creative officer," Burberry said in a statement. "As part of this process the number of Burberry shares he actually owns has increased. There are only certain times of the year when board members of a public company can sell shares which is why he is doing this now."
The former Donna Karan designer now has 303,110 shares worth £4.4 million in his name. He took over the post as Burberry's CEO from Angela Ahrendts when the latter left to join Apple in May 2014. Christopher is being considered to receive a performance-related award of shares worth £7.6 million – on top of his £1m salary and possible £2 million annual bonus. He is reportedly also to receive share awards worth £20 million starting next year.