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As Express was circling the drain, its CEO secretly took home $1 million in perks

  • As Express was facing financial difficulties, its CEO received $1 million in perks.
  • The CEO's actions occurred while Express was struggling financially.
  • The situation raises questions about corporate governance and accountability.
  • The revelations highlight potential issues within Express's management practices.
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CNNCNN
+7 Reposted by 7 other sources

As Express was circling the drain, its CEO secretly took home $1 million in perks

In the three years that Express was sliding into bankruptcy, its CEO at the time was taking advantage of “chartered aircraft for personal purposes,” according to the Securities and Exchange Commission.

·Atlanta, United States
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retaildive.comretaildive.com

SEC charges Express with failing to disclose $1M in perks to former CEO

Fashion news for industry leaders. Covering brands, supply chain, retail, compliance, and more.

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Chief Executive Officer North AmericaChief Executive Officer North America

Former Express CEO pocketed $1 million in perks from struggling company - CEO North America

Express did not disclose nearly $1 million in executive perks for its former CEO, Tim Baxter, according to an SEC report. According to the SEC, “The Securities and Exchange Commission today announced settled charges against Ohio-based Express, Inc., a multi-brand American fashion retailer, for failing to disclose executive compensation it paid to its now former CEO.” The SEC highlighted; “Express failed to disclose $979,269 worth of perks and …

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PYMNTS.comPYMNTS.com

SEC and Express Settle Charges Related to Disclosure Obligations

The Securities and Exchange Commission (SEC) settled charges with Express, Inc., in which it alleged that the fashion retailer failed to disclose executive compensation paid to its now-former CEO in fiscal years 2019, 2020 and 2021. Express Inc.’s failure to disclose $979,269 worth of perks and personal benefits to its CEO during those years resulted in it understating the “All Other Compensation” portion of the CEO’s compensation by an average …

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RetailWitRetailWit

SEC charges Express with failing to disclose $1M in perks to former CEO – RetailWit

The agency did not impose a penalty, though, in part because the apparel retailer self-reported.

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News Talk 94.1/AM 1600News Talk 94.1/AM 1600

Express failed to disclose $1 million in perks to ex-CEO, SEC says

Investors were kept in the dark about expenses including chief executive’s personal use of chartered aircraft, regulator alleges. Source The post Express failed to disclose $1 million in perks to ex-CEO, SEC says appeared first on News Talk 94.1/AM 1600.

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retaildive.com broke the news in on Tuesday, December 17, 2024.
Sources are mostly out of (0)

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