Thursday, May 14, 2020

J.C. Penney pays out nearly $10M to execs as finances falter

Retail Dive
J.C. Penney is paying out millions of dollars in performance bonuses to its top executives as its stock nears $0 and the retailer reportedly drifts toward bankruptcy.

In a recent securities filing, the company said its board had approved changes to its compensation program that include pre-paid cash incentive awards worth a fraction of executives' target variable compensation.. . . more