Superdry co-founder James Holder is slated to pocket at least £300,000 per year in consultancy fees from the fashion retailer, according to The Sunday Telegraph. The news comes after fellow co-founder Julian Dunkerton narrowly won his bid to rejoin Superdry’s board of directors after months of grabbing headlines as a vocal critic of the company’s business strategy.
According to The Telegraph, Dunkerton said afterwards that Superdry would turn to Holder’s SuperDesign Lab to help revive the fashion brand. Holder, who retains a near-10 per cent stake in Superdry, has already designed 250 garments ready to be ordered at factories and is reportedly planning to roll out between 500 and 1000 new designs before Christmas.
Meanwhile, Sutherland was paid £728,000 annually at Superdry and is now entitled to a year’s salary despite his immediate resignation. However, the pay-out will be reduced if Sutherland takes on another role within the next year. Dunkerton has taken on the role of chief executive on an interim basis. Former chairman Peter Bamford, chief financial officer Ed Baker and chair of the remuneration committee Penny Hughes were among the other big names to have stood down with immediate effect last week following Dunkerton’s return.
