Special fund for a special financial incentive system. H&M, the Swedish group, markets clothes and cosmetics in about 2,000 stores in 37 countries. It has about 76,000 collaborators and, in 2009, made about 118,697 million Swedish krona (€12,870M). on September 7th, its CEO, Stefan Persson, announced the creation of a foundation endowed with 4 million H&M shares for a total value of SEK 1bn (€180.5M). then, this fund will receive, each year, about 10% of net profit given to the shareholders each year, i.e. for 2008-2009, SEK 42M (€4.5M(. However, the fund must never account for more than 5% of all H&M shares. It will be used to provide funds for a bonus given to the company’s employees to reward their involvement.
sson, announced the creation of a foundation endowed with 4 million H&M shares for a total value of SEK 1bn (€180.5M). then, this fund will receive, each year, about 10% of net profit given to the shareholders each year, i.e. for 2008-2009, SEK 42M (€4.5M(. However, the fund must never account for more than 5% of all H&M shares. It will be used to provide funds for a bonus given to the company’s employees to reward their involvement.
The principle is simple: all those who’ve been working...
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