Majestic boss tops list of highest paid retail execs

Majestic boss Rowan Gormley has topped the list of highest paid UK retail bosses due to the company’s acquisition of Naked Wines, a new survey by trade publication Retail Week has claimed.

Naked Wines founder Rowan Gormley

The top 100 highest-rewarded retail executive report, based on the publication’s analysis, put Gormley at the top of the list due to the £5.1 million pay-off he received related to the Naked Wines acquisition deal. Along with his comparatively modest £222k salary and other benefits, Retail Week put his total annual package at £5.386 million. 

Gormley beat Tesco boss Dave Lewis – whose as the highest salaried exec in the list has a salary more than five and half times that of the Majestic boss, it said – who was in third place with a net package of around £5.244 million in 2016-17. Morrisons boss David Potts and CFO Trevor Stain also make the top ten at 8th and 10th place respectively, just ahead of Sainsbury’s CEO Mike Coupe in 11th place with a package of £2.349 million. Steve Rowe of Marks & Spencer came in in 17th place. 

In June, Majestic reported it was ‘past the tipping point’ financially and operationally as it saw double digit sales growth for the year, even though profits took a hit on the back of the costs related to the Naked Wine acquisition, one-off costs and the revaluation of foreign exchange and Brexit-related currency impacts.

2 Responses to “Majestic boss tops list of highest paid retail execs”

  1. It’s quite vulgar and he cant even shave!!

  2. john thorne says:

    Dear John, It might just be a five o clock shadow !
    Can’t comment on vulgarity of salary, as I am rather envious. Still trying to calculate how many bottles of wine one has to sell to reach that point.Can anyone help ?

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