Next CEO takes home £4.7m pay packet as profits top £1bn
Next chief executive Lord Wolfson took home almost £5m in pay this year as the retail giant’s profits topped £1bn for the first time.
Next chief executive Lord Wolfson took home nearly £5m in pay this year as the retail giant’s profits topped £1bn for the first time.
Wolfson was paid £4.72m for the year to Janaury 2025, up from his £4.63m pay packet the year before, the retailer’s annual report shows.
The chief executive took home an annual salary of £1.16m and £3.56m in bonus payments, including an annual bonus of £1.02m. He received £2.55m from the retail giant’s long term incentive plan.
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Wolfson has been awarded a 2.8% base salary increase for the current financial year, taking his new rate from £944,000 to £971,000. The retailer said this was below the 6.8% average increase for the wider company.
It comes as Next revealed last month its profits had surpassed £1bn for the first time as group sales rose 8.2% to £6.3bn.
Commenting on the retailer’s results, Wolfson said at the time: “To some it may seem an important milestone…we do not share that view.”
“It’s nice to have the milestone, it’s encouraging but in itself, it doesn’t change the business,” he said.
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