Express Inc. will be paying two CEOs for the next year.
The Columbus-based retailer last week announced the resignation of Tim Baxter, who had led the business since 2019, and the appointment of Stewart Glendinning as his replacement.
Baxter will receive his $1.35 million annual salary for the next 12 months and remains eligible for any short-term incentives he would receive based on the company’s 2023 performance. Glendinning joins the company on a three-year deal that guarantees him a minimum $8 million in salary and bonuses over that term.
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