Abercrombie CEO Gets New Contract Amid Investor Dissent

Chief Executive Officer Mike Jeffries got a new contract with the teen apparel retailer amid weakening earnings and a shareholder's call for him to be replaced. The new agreement, which goes into effect after Jeffries’ current pact expires on Feb. 1, pays a base salary of $1.5 million a year, the same as his current contract, while boosting his annual bonuses to as much as $4.5 million from as much as $3.6 million, the company said in a filing yesterday.