Retail

Boohoo to boost executive bonuses to counter share slump

Fast-fashion firm shareholders to vote on new long-term target-bonus plan for Irish boss and other executives after five-year growth plan falls flat

John Lyttle, the Irish chief executive of fast fashion firm Boohoo: the company will ask its shareholders to vote on a new long-term incentive plan for its executive directors, including Lyttle

Boohoo, the fast-fashion company, is restructuring its lucrative bonus scheme as a “powerful retention tool” for John Lyttle, its Irish chief executive, over fears the company’s share slump will mean the existing plan “will not pay out at the levels hoped for when they were introduced (if at all)”.

The company will ask its shareholders to vote on a new long-term incentive plan for its executive directors, including Lyttle, who is from Offaly, that would ...