Christopher Bailey's salary revealed
Christopher Bailey's additional new role as Burberry's CEO will see him earn a whopping £8.1 million this year.
Christopher Bailey is set to make £8.1 million this year.
The Burberry designer officially took over from Angela Ahrendts as the luxury brand's Chief Executive Officer on May 1, a role he undertakes on top of his duties as Chief Creative Director, and his salary has soared to match his role.
According to WWD, the new CEO is set to earn the staggering sum of £8.1 million in 2014, as well as a starting share package of £7.6 million.
Christopher has scored a raise on exiting boss Angela, who has moved to a new job as Senior Vice President for retail and online stores at technology giant Apple.
His base salary is set at £1.1 million compared to Angela's £1.02 million, with an expense allowance for clothes, a driver and other fashion luxuries fixed at £440,000, while Angela's was £387,000.
With the addition of a pension fund, a cash bonus of £2.2 million at the end of the year and share awards of up to £4.4 million, the figure reportedly totals almost eight times his base salary.
However, Christopher won't be keeping all the money for himself since he has agreed to invest 10 per cent of his after tax earnings to The Burberry Foundation, a program for disadvantaged youth.
The designer has been at Burberry since 2001 and was named as Angela's successor last October.