{"id":281914,"date":"2010-02-05T11:24:11","date_gmt":"2010-02-05T16:24:11","guid":{"rendered":"http:\/\/www.footnoted.org\/?p=4513"},"modified":"2010-02-05T11:24:11","modified_gmt":"2010-02-05T16:24:11","slug":"a-fashionable-start-at-jones-new-york%e2%80%a6","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/281914","title":{"rendered":"A Fashionable Start at Jones New York\u2026"},"content":{"rendered":"

\"\"<\/a>Yesterday, Jones New York<\/a> (JNY) filed an 8-K<\/a> that disclosed the terms of its new employment agreement with fashion wunderkind Richard Dickson.<\/p>\n

Next Monday, Dickson, who\u2019s only 41, will become the President and CEO \u2013 Branded Businesses of the Company for Jones Apparel Group, Inc.\u00a0 He\u2019ll report to Wesley Card, who is giving up the title of President but will remain the company\u2019s CEO.<\/p>\n

Dickson\u2019s agreement<\/a>,\u00a0which runs through the end of 2012, states that he\u2019ll earn a base salary \u201cof not less than\u201d $1,000,000 and get a sign-on bonus of $455,000.\u00a0 So long as he stays through the end of 2010, he\u2019ll also receive an Annual Cash Incentive Target Bonus of $900,000; in future years, his bonus will be based on the achievement of set objectives.\u00a0 The company is also giving Dickson $1,800,000 worth of performance-based restricted stock if he\u2019s still there on Dec. 31, 2010.\u00a0 He\u2019ll get another 100,000 shares of restricted stock in 2010, 2011, and 2012 \u201cto make up for unvested existing equity values” that he had with his previous employer, Mattel, Inc.\u00a0 And, of course, there are the usual perks that reward one for the pressures that come with executive responsibility.<\/p>\n

Dickson joined Mattel in 2003 and held positions of increasing responsibility during his time there. According to this article<\/a>, Dickson is the guy who updated Barbie\u2019s look and improved her popularity as a toy.\u00a0 (The same piece reported that 2009 holiday sales for Barbie were up 12%, whereas the company\u2019s overall revenues increased just 1%.) \u00a0Prior to joining Mattel, Dickson spent more than a decade working for Bloomingdale\u2019s, and before that he launched an e-commerce beauty web site that was eventually acquired by the Estee Lauder Companies, Inc.<\/p>\n

It\u2019s hard to know how much better Dickson\u2019s deal is at Jones New York than it was at Mattel.\u00a0 We looked at the proxy<\/a> Mattel filed last March; however, Dickson\u2019s salary isn\u2019t disclosed since he wasn\u2019t one of the five highest-paid executives.<\/p>\n

It\u2019s a safe bet, though, that the job is a step up in compensation, along with the new responsibilities.<\/p>\n

Image source: \u00a0Jones New York<\/em><\/p>\n

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Yesterday, Jones New York (JNY) filed an 8-K that disclosed the terms of its new employment agreement with fashion wunderkind Richard Dickson. Next Monday, Dickson, who\u2019s only 41, will become the President and CEO \u2013 Branded Businesses of the Company for Jones Apparel Group, Inc.\u00a0 He\u2019ll report to Wesley Card, who is giving up the […]<\/p>\n","protected":false},"author":4072,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-281914","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/281914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4072"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=281914"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/281914\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=281914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=281914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=281914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}