Lord Simon Wolfson was paid almost £3.4m despite forgoing annual bonus
Lord Simon Wolfson, the boss of the Next fashion and homewares chain, received a 28% pay increase last year to almost £3.4m despite forgoing his annual bonus and taking a cut in basic salary.
Next said it did not feel that paying out an annual cash bonus, which amounted to £350,000 for Wolfson the year before, was appropriate given that the company had not paid dividends to shareholders. Wolfson and other directors and top managers in the business also took a 20% cut in basic pay between April and June when many workers were on furlough.
