Monday, November 20, 2017

Senior Majestic Wine employees to earn a share of £7m after CEO gives up bonus

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Majestic Wines chief executive Rowan Gormley is set to share his personal £7 million bonus with the alcohol retailer‘s senior employees.

Gormley said he did not accept the shares offered to him as part of a long-term incentive plan and instead the retailer‘s 493 staff, from store manager level up, will have a chance to gain over £14,000 each if they achieve their targets.

Gormley said he believes Majestic is “doing the right thing for our people”.

“We’re serious about aligning our people and our shareholders’ interests,” he said.

“We are focused on investing in our people.’