Looks like Abercrombie & Fitch's controversial CEO will have another year to run the company into the ground! Ha!
The peeps at Abercrombie announced that despite a letter from investors urging Mike Jeffries to step down, they have extended his contract through February 2015.
We hope that this contract extension comes with some sensitivity training! Lots of it!
The new contract includes a $1.5 million salary, up to $6 million in target incentives, up to $4.5 million in bonuses, and use of the company's $200,000 private jet.
How nice for him.
But, really, give some thought to that sensitivity training, Abercrombie!
[Image via AP Images.]
Tags: abercrombie and fitch, business blitz, fashion smashion, mike jeffries