Harrods doubles MD’s pay to £2.3m despite collecting £6m in furlough support

Luxury store made profit of £51m in 2021-22 after Covid restrictions eased and tourists returned

Harrods more than doubled the pay of its managing director, Michael Ward, last year to £2.3m, even as the company collected almost £6m in government support under the furlough scheme.

Ward, understood to be the highest-paid director at the upmarket department store in Knightsbridge, west London, increased his package from £1m the previous year after Harrods returned to profit as pandemic restrictions eased.

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​Luxury store made profit of £51m in 2021-22 after Covid restrictions eased and tourists returnedHarrods more than doubled the pay of its managing director, Michael Ward, last year to £2.3m, even as the company collected almost £6m in government support under the furlough scheme.Ward, understood to be the highest-paid director at the upmarket department store in Knightsbridge, west London, increased his package from £1m the previous year after Harrods returned to profit as pandemic restrictions eased. Continue reading…