Source: Campaign
The pay cuts just seem to be going further and further down for Abercrombie and Fitch CEO Michael Jeffries. Last year the brand had a 77 per cent decline meaning Jeffries took home a pay check of a around 72 per cent for the year, so Jeffries received a base salary of $1,500,000 and $2,244,766 in total compensation for 2013, which sounds pretty nice to us! But in comparison to receiving $48,069,473 back in 2011, these are rather big cuts.
Abercrombie and Fitch have had quite a bumpy year with the drop in sales as well as the controversy around the brand. Jeffries made a statement about the brand saying it was only meant for “cool, good-looking people” But Jeffries contract has been extended to February of 2015 so there is more yet to come from the brand.
