N Brown's new chief executive Angela Spindler has been given a 'golden hello' salary package worth almost £4 million over three years.
A portion of the money is to compensate her for awards she would have received from her former employer The Original Factory Shop had she remained with the firm.
Her salary was not disclosed but based on retiring chief executive Alan White's previous salary of £542,000 she could receive a golden handshake of £1.63 million. She could also take more than £500,000 for the current financial year.
Shareholder groups have become critical of such packages because they are not based on performance.
Meanwhile, Argos chief executive Terry Duddy received a sharp rise in pay despite a drop in profit of 10 per cent to £91 million.
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