Mahmud Kamani John Lyttle Manchester performer reports WhatsApp target Waters Provident Platform Mahmud Kamani John Lyttle Manchester

Boohoo boss takes home £650,000 bonus despite fast-fashion giant making over £90m loss

Reading now: 351

Fast-fashion giant Boohoo handed its chief executive a bonus of more than £650,000 despite racking up losses of over £90m. According to the annual report of the Manchester-headquartered group, whose brands include PrettyLittleThing and Nasty Gal, John Lyttle took home a £1.35m pay packet in the year to February.

It was made up of his £651,000 salary, and an annual bonus also amounting to £651,000, or 100% of his base wage. READ MORE: Join the FREE Manchester Evening News WhatsApp community Boohoo’s largest shareholder Mahmud Kamani, who co-founded the firm in 2006 and is estimated to be worth around £675m, also enjoyed an annual bonus worth 100% of his salary.

He took home £1m last year. In March, shareholders narrowly approved a new bumper incentive deal which could see Mr Lyttle earn a £50m bonus over the next five years provided he led a significant turnaround in Boohoo’s share price.

Boohoo said the share price targets were "realistic" but "very stretching", and "provide a real incentive for management to return Boohoo to growth and value creation".

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News