Here’s how much L Brands’ new leaders will make

Columbus Business First

KANSAS CITY, MO – APRIL 02: A closed sign is seen in the doorway of the Bath and Body Works store at Country Club Plaza as the Coronavirus Pandemic causes a climate of anxiety and changing routines in America on April 02, 2020 in Kansas City, Missouri. Country Club Plaza, an outdoor shopping center, is usually bustling but now sits virtually empty in the midst of the Pandemic.
(Photo by Jamie Squire/Getty Images)

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Les Wexner’s replacement will receive a higher base salary in his first year on the job than the Central Ohio titan did in his final year with the company he founded decades ago.

Andrew Meslow, a Bath & Body Works veteran who was named L Brands’ CEO at the company’s annual meeting this month, will receive a $1.275 million base salary, according to as employment agreement filed with the Securities and Exchange Commission.

Meslow also is eligible for a retention bonus worth as much as $6 million – to be paid in installments – if he stays through January 2022. At the same time, a performance-vesting restricting stock grant will allow him to earn as much as 1.5 million shares over a five-year period, depending on how the company meets stock targets and revenue growth measures.

In 2019, Wexner’s base salary was $900,000. His total compensation, tied closely to the company’s stock performance, totaled $3.8 million for the year.

For more, go to Columbus Business First.

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