Overview

• Cheston will be paid a $2.35 million base salary and is eligible for annual cash bonuses up to $2.35 million tied to 18 percent and 30 percent EBIT growth thresholds.
• He could receive up to $7.05 million over three years under a long-term incentive plan if annual EBIT growth of 30 percent or more is maintained.
• Mark McInnes has been appointed executive deputy chairman with a cash salary of $2 million.
• Following the leadership announcement, Lovisa’s shares surged 8.2 percent to $31.74.
• The ASX-listed retailer operates 943 stores worldwide and reported $405.9 million in half-year revenues and $56.9 million in profits while expanding into Africa and Central America.