Puig approves a €167 million incentive plan for his leadership

BarcelonaThe Catalan fragrance and fashion group Puig held its first general shareholders' meeting this Wednesday after the IPO just over a year agoAlthough the share price has fallen by around 32% compared to its initial public offering during this time, the company's chairman, Marc Puig, boasted about having fulfilled the commitments made during its debut on the stock market. For example, in terms of sales—with a record turnover of €4.79 billion—business profitability, and shareholder remuneration.

The latter have given their approval to Puig's current management, which has rewarded them with the distribution of a dividend of €0.377 per share, approximately 40% of the net profit of €551 million achieved in 2024. This dividend amounts to €221 million, which will be distributed as of June 12.

The other important point of the day was the long-term incentive plan, with which the company will reward its executive directors and managers with up to €167 million if they meet their objectives. The plan is organized into three overlapping but independent three-year cycles: the first runs from 2025 to 2027; the second from 2026 to 2028; and the third from 2027 to the end of 2029. The remuneration will be in the form of a package of shares.

Marc Puig's salary

How much will CEO and Chairman Marc Puig earn if he achieves these goals? The plan establishes that the group's top executive is entitled to receive a share package at the end of each cycle equivalent to, at most, 440% of his annual salary. In 2025, Marc Puig will receive a fixed remuneration of €1.8 million, as the company itself reported to the National Securities Market Commission (CNMV). Therefore, he could earn almost €10 million in shares through this variable.