Big claim by queen of smalls
"SMALLS" are a big earner for retailers, but they can be an expensive luxury. Former M&S "knicker queen" Janie Schaffer is claiming a £1m (€1.16m) payout after working for the British fashion behemoth for just three months.
Ms Schaffer is a former creative director for Victoria's Secret and also the founder of UK chain Knickerbox. She joined Marks and Spencer as head of lingerie and beauty in January but left in April.
She's seeking payment of a full year's salary and compensation for Victoria's Secret share options that she missed out on because of pressure to start early at M&S. Her departure related to a misunderstanding about her job description – she's reported to have started on the understanding she'd have creative control over the entire lingerie department, but this was not the case.
Being seen to lose £1m to an employee who was with the company for just three months will not do chief executive Marc Bollard or chairman Robert Swannell any favours. We bet they'd prefer to settle this out of the public eye, especially since the retail giant is holding its annual general meeting in London today as well as releasing a second-quarter trading update.