80pc discount for new Burberry chief

BURBERRY’S new boss, Marco Gobbetti, is set for a whopping 80pc discount on any product he buys from the luxury fashion house.

And the Italian boss, pictured, who started work as chief executive yesterday, gets an £80,000 allowance for clothing, a car and travel. The benefit, revealed in his employment contract, will raise eyebrows at a time when the firm faces shareholder pressure.

It has faced accusations of excess ahead of its annual meeting on Thursday next week.

The Institutional Shareholder Services investor group suggested members vote against the remuneration report while the Investment Association issued an alert over Burberry’s pay. The 80pc discount, available to all senior managers, means Gobbetti could buy a £1,395 Westminster Heritage trench coat for £279.

His contract, seen by the Mail, also sets out his £1.1m salary, an annual bonus which could deliver 200pc of his salary, and a pension contribution of 30pc of salary.