If you’ve been waiting for Abercrombie & Fitch’s CEO Michael Jeffries aka Biff IRL to get his, the time might be now. Not only has his company been racked with bad publicity thanks to his controversial comments, the mall brand has taken a hit on the financial sided as well. A&F’s decline was reported to be down 77 percent in 2013 aka its worst year ever. And Jeffries is taking a massive pay cut as a result.
Here’s a timeline of his pay grade year by year. In 2011 he was making nearly $48 million a year, but then the following years his stacks have been going down like Plinko chips. In 2012 he earned slightly more than $8 million, and now it’s down to a total compensation of $2,244,766 for 2013, according to recent filings. If we’re following this correctly, the Douche Lord’s stacks is not looking good when those reports come in at the end of 2014. Pretty soon he won't even be able to afford his company's wack product.
Most of A&F’s problems stem from Jeffries. Numerous expert voices have weighed in to say that the only way for Abercrombie to possibly bounce back is to replace the controversial CEO. The only positive news from 2011 to 2013 was a bump in the company's stock once one of its main investors called for Jeffries replacement. Unfortunately he’s still running the ship until February 2015.
[via Fashionista]
