Burberry: higher bonuses, climate neutral in ten years

Burberry is revising the bonus plan for its CEO: Schulman can now earn up to £12.2 million (€14.4 million). At the same time, the British luxury retailer is scaling back its climate ambitions: the brand is now aiming for net-zero emissions by 2050. The changes coincide with a cautious turnaround in results.

Pay raises

Schulman, who joined from Coach in July 2024, earned 4 million British pounds (4.7 million euros) in the fiscal year ending in March: 1.2 million pounds in fixed compensation, 2.3 million pounds in annual cash bonuses, and 299,000 British pounds in relocation expenses from New York. Starting in July, his salary will increase by 3% to £1.24 million. In addition, he is eligible for a stock-based incentive plan worth up to 300% of his salary, provided he meets targets, including revenue growth to £3.1 billion by 2029.