As West Chester’s QVC Group navigates Chapter 11 bankruptcy filing, the home shopping giant overhauled how it compensates its top leadership, writes Jeff Blumenthal for the Philadelphia Business Journal.
According to a recent SEC amendment to the company’s annual report, CEO David Rawlinson forfeited $19.5 million in stock awards in exchange for a performance-based bonus structure to keep him on board through the bankruptcy process. He has a 3-year contract to stay on through 2027.
The 2025 compensation package totaled nearly $10.87 million, which is more than 70 percent higher than his $6.3 million in 2024 and more than double his 2023 earnings.
Rawlinson’s restructured pay involves a $1.75 million base salary, a $2.25 million retention bonus, and a $15.75 million special bonus split between retention and performance components. The retention bonus demands repayment if he exits. The performance aspect is related to customer growth, operating income, bankruptcy timing, cost reductions, and property sales.
Additionally, other C-suite members had changes to their pays. Chief Accounting Officer Bill Wafford brought home nearly $3.7 million, a big jump from his predecessor’s $420,590. QVC President Mike Fitzharris earned $2.2 million, Chief Growth Officer Alex Wellen took in $2.25 million, and HSN President Stacy Bowe earned $1.9 million.
The compensation shifts appear to be part of the larger strategy to ensure a swift and successful exit from bankruptcy. Meanwhile, there have been no staff layoffs and QVC products can still be bought like usual.
Read more about QVC Group executive pay changes as the company works through bankruptcy at the Philadelphia Business Journal.
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Editor’s Note: This post was originally published on VISTA.Today in May 2026.
