Calvin McDonald scored a $14.6 million payday final yr as chief govt officer of Lululemon Athletica Inc.
Most of that compensation got here within the type of inventory and choice awards, which have been valued at a complete of $11 million and tie McDonald’s personal fortunes with these of shareholders. How a lot of that cash he in the end sees will rely upon the corporate’s efficiency.
In any other case, McDonald obtained a wage of $1.3 million and incentive pay of $2.2 million, in response to the corporate’s proxy assertion filed with the Securities and Alternate Fee.
His pay bundle shrank by 11.8 % from the $16.5 million he logged in 2023, nonetheless.
McDonald is likely one of the highest-paid CEOs in vogue and retail, however doesn’t prime the checklist.
Proxy statements, which tee up an organization’s annual assembly, are simply trickling out now and up to now Walmart Inc.’s Doug McMillon (with a pay bundle price $27.4 million final yr) and Goal Corp.’s Brian Cornell ($20.4 million) have him beat.
Lululemon grew gross sales by 10 % to $10.6 billion in 2024 — development that outstripped a lot of the vogue business however nonetheless lagged the dramatic growth the model noticed beforehand.
The model has 462 shops within the Americas, 151 shops in China, 107 in its Asia-Pacific area and 47 doorways in Europe and the Center East.
“In 2024, we continued to develop our enterprise globally as we dropped at life thrilling model activations around the globe, remained resilient within the face of challenges, and labored to introduce extra newness and innovation into our product assortment,” McDonald stated within the proxy assertion.
Whereas the corporate is seeing stronger development abroad, it expects to solely publish a modest growth in its dwelling market of North America this yr.
