WWD Digital Daily

Larsson’s Pay


Stefan Larsson looked back on his first year as chief executive officer of PVH Corp. and rearticula­ted his growth plans in the company’s annual proxy statement to shareholde­rs, which also showed the CEO logged an 81.2 percent jump in his own compensati­on.

Larsson said the company “continued to successful­ly navigate the COVID-19 pandemic while driving toward an accelerate­d recovery to position PVH to win with the consumer in the ‘new normal’ and deliver sustainabl­e, profitable long-term growth.”

While PVH developed a reputation as a dealmaking powerhouse, Larsson is taking time now to take a step back, divesting the Heritage Brands division, and looking to really drive the company’s two main brands before buying any more.

“We have a clear commitment to unlocking the full potential of our iconic global brands, Calvin Klein and Tommy Hilfiger, as we remain focused on connecting closer to where the consumer is going than at any time before, while leveraging the power of

PVH as a global growth platform,” Larsson said.

The statement filed with the Securities and Exchange Commission set the company’s annual meeting for June 16 and also detailed the CEO’s pay.

Larsson’s compensati­on rose to $14.7 million from $8.1 million in 2020, when he was president.

The bulk of his pay came from stock and option awards valued at $8 million, although their true value will depend on the price of PVH shares, tying Larsson’s take to the fortunes of shareholde­rs. He also received a salary of $1.3 million and incentive pay of $5.2 million.

 ?? ?? Stefan Larsson
Stefan Larsson

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