The annual Women’s Wear Daily (WWD) list of the top 25 highest-paid executives from publicly traded retail companies was released last week, and as per usual, only a small number of women made the list.
Granted, the No. 1 spot did go to a woman, Carol Meyrowitz, CEO of TJX Companies Inc., the parent of discount chains T.J. Maxx, Marshalls and Home Goods. Meyrowitz made $28.7 million in total compensation in 2014. On average, the top 25 retail executives earned $13.9 million. Executive pay packages vary among retail brands, WWD reported, but generally include equity, base pay and a performance payout. TJX, for example, sets a $1.5 million base salary for Meyrowitz; the rest of her $28.7 million pay package is incentive- and equity-based.
Meyrowitz is the only woman to crack the list’s top 10, and only one of five on the list overall. The other four women on the list included:
- Barbara Rentler, CEO, Ross Stores Inc. ($12.1 milion);
- Sharen Turney, CEO and President of Victoria’s Secret, L Brands Inc. ($10.9 million);
- Rosalind Brewer, Executive Vice President, Wal-Mart Stores Inc. ($9.6 million); and
- Kay Krill, CEO and President, Ann Inc. ($8.1 million).
So, why aren’t there more highly paid female executives in the retail space? And what can be done about the lack of representation? Let us know your thoughts by posting a comment below, or sending me an email at email@example.com.