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Daily Mail, London, Alex Brummer Column.

By Alex Brummer, Daily Mail, London Knight Ridder/Tribune Business News

Aug. 6--Small wonder Debenhams chief executive Belinda Earl has a big smile on her face in recent photographs. She and her executive team are learning the art of being entrepreneurs as well as managers.

The offer document from Permira, just released, reveals full details of the rewards being shared. Earl is such a valuable property that her basic salary surged to UKpound 600,000 this year against UKpound 484,000 in the last annual report. But this is the tip of the iceberg.

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