Emanuel Chirico’s Pay at PVH Tops $17 MillionThe chairman and ceo has seen his own compensation increase as the company’s key Tommy Hilfiger and Calvin Klein businesses have grown.

[Collection]Emanuel Chirico saw his pay as chairman and chief executive officer of PVH Corp. rise 7 percent to $17.2 million last year as the company’s Tommy Hilfiger and Calvin Klein businesses strengthened. Chirico’s take included stock and options tagged at $9.1 million, although the final value of those grants will depend on how PVH’s stock price changes, according to details of the executive’s pay disclosed in a filing to the Securities and Exchange Commission. The ceo, who has worked at the company for 24 years, received a $4 million incentive payment and a salary of $1.4 million as well as pension and other compensation. Under new SEC rules, PVH gave information about pay at the company overall, determining that its median pay, excepting the ceo, was $16,520. The median employee was a part-time, hourly retail store warehouse associate. Chirico’s compensation totaled 1,042-times the company’s median pay. PVH’s sales grew 9 percent to $8.9 billion last year. Net income fell 2 percent, to $537.8 million, but earnings per share rose. At the time results were reported, Chirico touted PVH’s dedication to its long-term vision and said that last year: “We continued to make investments that centered around areas most impacted by the changing dynamics in the industry

Follow WWD on Twitter or become a fan on Facebook.

Read More...http://wwd.com/business-news/financial/emanuel-chirico-executive-compensation-pvh-tommy-hilfiger-calvin-klein-1202668116/