CEO Paywatch: Retiring Hugh Sawyer from Regis made $890K last fiscal year
Sawyer took a cut in salary and also refused a bonus he had earned because of the coronavirus economy effects on salon workers and the company.
September 19, 2020 at 2:05AM
Total compensation: $889,861 for the year ended June 30
Salary: $861,821
Other compensation: $28,040
Total 2020 shareholder return: -50.2%
CEO pay ratio: 42-1
Median employee pay: $21,232
Note: Regis announced on Sept. 8 that Sawyer would be retiring as chairman, president and CEO though he would remain an executive adviser to the company through September 2021.
Felipe Athayde, who was most recently an executive with Popeyes Louisiana Kitchen, has been named to succeed Sawyer and will help to finish the company's conversion to an all-franchise business model.
It was a strategy that Sawyer had launched shortly after he was named to the top spot nearly 3 ½ years ago.
In his last full year as CEO, Sawyer realized $889,861 in total compensation, down from $3.6 million the year before and $3.1 million the year before that.
Sawyer and other senior executives and members of the board of directors took cuts to their compensation earlier this year when government mandates closed salons in response to the coronavirus pandemic. Salon employees were out of work, and other employees took furloughs and salary cuts.
Sawyer took some of the biggest cuts. Besides a 60% salary cut in the initial weeks of mandated shutdowns (and a smaller one after that), he declined to take an annual incentive bonus that he qualified for. The company exceed its financial goals for the year. Other senior leaders were granted annual incentive bonuses that were 107% of the targeted amounts.
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