Watches of Switzerland bosses see their pay ticking up after successful stock market debut
Bosses at luxury jeweller Watches of Switzerland enjoyed a £14million windfall after its stock market debut.
Chief executive Brian Duffy, 64, pocketed £5million from the listing after selling 1.9m shares, while finance boss Anders Romberg, 55, bagged £2.4million, selling 875,000 shares.
Duffy, who has headed Watches of Switzerland since 2014, was also handed 2.2m of its stock in an incentive plan.
Perfect timing: Watches of Switzerland chief executive Brian Duffy, (pictured with model Gabriella Wilde) pocketed £5m from the listing after selling 1.9m shares
The shares were worth £6.6million based on yesterday’s price of 300p.
A spokesman said the share award recognised the services provided by Duffy (pictured with model Gabriella Wilde) who joined Watches of Switzerland from Ralph Lauren.
He also held a stint at Wonderbra’s former owner Sara Lee Corporation where he was responsible for the lingerie firm’s ‘Hello Boys’ advertising campaign.
The company joined the London Stock Exchange last week, earning a valuation of £647million.
It was worth £730million last night at yesterday’s closing price.
The company, whose Rolexes cost as much as £156,850, also owns jewellers Mappin & Webb, Goldsmiths and Mayors, and has 120 stores in the UK.