Wealthy CEO donates millions back to the employees
April 17, 2013
The CEO of the popular British retail store Next donated his $3.6 million dollar bonus back to the employees. Lord Wolfson said in an email that it was his way of giving back to the hard work of Next's employees during tough economic times.
Over 19,000 full time and part time employees who have been with the retail store since 2010 will receive an additional 1% of their current salary.
Next has been on the decline the past few years due to the economy and less consumer spending, but Wolfson was able to help turn it around this year.
"The task of growing sales and controlling costs looks set to remain a challenge over the next few years," said Wolfson. "But if we continue with the hard work, intelligence, initiative and common sense of recent years, then we have every chance of continued success."
This is a true act of leadership. Even to a wealthy CEO, $3.6 million is a great amount of money to give away.
Source: The Telegraph
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