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B&Q managers to share in 9m windfall

B&Q store managers will take home £45,000 after a £9m incentive scheme vests today.

The incentive scheme was given on the condition managers stayed with the company for three years and maintained standards in their stores.

According to The Sunday Times, more than 300 store managers will profit from shares they were given in April 2009 that equalled six months’ salary.

The incentive scheme was given on the condition managers stayed with the company for three years and maintained standards in their stores.

The Kingfisher-owned business has seen its share price increase from 160p in April 2009 to a closing price this weekend of 304p, earning each manager £45,000.

The figure represents around £5,000 less than their annual salary.

Kingfisher group chief executive Ian Cheshire said: “The shares gave them an interest in the broader group and are now worth almost a year’s salary – it’s a very strong motivator for keeping standards up and retention good.”

Source : Tiffany Holland – Retail Week
www.retail-week.com

23 April 2012
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