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In the News

Asos accused of rewarding ‘spectacular failure’ as CEO gets £300k rise

Graham Watson

19th November 2024

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Executive pay is in the spotlight again, with the news that despite the slump in Asos' share price, its Chief Executive is going to get a 44% pay rise, despite its share price having fallen by 60% under his tenure.

The company itself - of course - trots out the usual platitudes about "industry benchmarks and achieving strategically important objectives", and "an increased pre-tax loss of £379.3m in the year to 1 September, up from £296.7m the year before", with sales 12% lower. So heaven forbid how much he'd get if the company performed even somewhere near adequately.

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Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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