There's likely no shortage of people who would pay to work for Rihanna, a global superstar and the wealthiest female musical artiste in the world. Victoria’s Secret just found out how expensive it is to poach a chief executive from one of her companies. On Wednesday (Aug 14), America’s largest seller of lingerie announced it had hired Hillary Super – the CEO of Savage X Fenty, the singer-songwriter's body-positive lingerie brand – to be its new CEO, effective Sept 9.
According to her employment agreement, Super’s compensation package could exceed US$18mil (approximately RM79mil). She will receive a base salary of US$1.2mil (RM5.
3mil) on top of a US$1mil (RM4.4mil) signing bonus, and she’s eligible for an annual cash bonus that could range as high as US$2.1mil (RM9.
2mil) to US$2.4mil (RM10.5mil).
The bulk of the compensation comes in the form of equity, as is customary for most public company CEOs. Super, also formerly the global CEO of bohemian-inspired retail fashion brand Anthropologie, will receive a one-time stock award valued at US$5.75mil (RM25.
16mil) that will fully vest in three years. In 2025, she’ll receive an annual equity grant valued at US$7.7mil (RM33.
7mil). That brings her target annual pay to approximately US$11mil (RM48mil), a Victoria’s Secret spokesperson confirmed. With the stock grant, Super's offer to lead the lingerie, clothing, and beauty retailer is nearly US$18mil (RM79mil).
She will also get the chance to sometimes work remotely, tho.