Lord Wolfson, CEO Of Next, Donates $3.7 Million Bonus To Employees

Next plc  is a British multinational clothing, footwear and home products retailer headquartered in Enderby, Leicestershire, England.^[4] It has around 700 stores, of which around 500 are in the United Kingdom and Ireland, and around 200 are in continental Europe, Asia and the Middle East. Next is the United Kingdom's largest clothing retailer by sales, having overtaken Marks & Spencer in early 2012. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

(Simon wolfson) Lord Wolfson, CEO of clothing retailer Next, announced in an email that he was giving his 2.4 million pound, or $3.7 million, bonus to his employees, the Telegraph reports. He told his workers that it was a “gesture of thanks and appreciation from the company for the hard work and commitment you have given to Next over the past three years and through some very tough times.”

The 45-year-old businessman had earned the money through a share matching plan, which began in 2010.

Simon Wolfson, Baron Wolfson of Aspley Guise (born 27 October 1967) is a British businessman and currently chief executive of the clothing retailer Next and a Conservative life peer. He is the son of former Next chairman David Wolfson, Baron Wolfson of Sunningdale, also a Conservative life peer.It is a greta gesture from ceo for his employees ,instead of taking that huge cash for his own use he decided to give his fortune to employees.

But we believe from the recent surveys this is not the first time one decided to be so generous there are many good examples to see which are much above it 

Mayor Michael Bloomberg, the 13th richest man in the world, opts to just take home an annual salary of $1. He’s also donated $2.4 billion over the years to a number of causes.

Jose Mujica, President of Uruguay is also on a pretty steady giving spree considering that he donates 90 percent of his salary to charity. He earns $12,500 a month, but only keeps $1, 250 for himself, according to a translation by Univision.

“I do fine with that amount,” Mujica told the paper. “I have to do fine because there are many Uruguayans who live with much less.”

But still we count it as a good gesture on his part but corporate can do better.