Burberry's CEO Took a 75% Pay Cut

While it seems as if many CEOs were paid regardless of performance in 2015, at least one chief executive can attest to the opposite. Burberry cut CEO Christopher Bailey’s pay from $10.8 million to $2.7 million in 2015, a 75 percent decrease as profits tanked and the luxury apparel retailer struggled to show growth, according to its annual report. Burberry bases a portion of its pay on profits for the year. That metric, adjusted profits before tax, fell 7.7 percent to $421 million last year — missing the company’s target.