Angela Ahrendts Awarded $68 Million in Apple Stock on Day One
According to a new report, Apple has awarded its new retail chief Angela Ahrendts stock compensation potentially worth about $68 million, continuing the iPhone maker's practice of generous pay for executives. The Cupertino, California-based company said in a filing yesterday that Ahrendts will get 113,334 restricted shares that will vest over the next four years. Based on Apple's closing price of $600.96, the shares would be worth about $68.1 million.
Bloomberg adds that "Ahrendts, formerly chief executive officer of Burberry Group Plc, was named in October to lead Apple's retail business, which includes more than 400 outlets and the company's online store. She started recently and will report to CEO Tim Cook. She's the only woman among Apple's 10-member executive team.
While Ahrendts more than doubled sales at Burberry since 2006, she also rejuvenated the brand by expanding in China, as well as embracing the Web and social media."
To attract top talent, you have to pay them top dollars. With that said, do you think any executive should be paid $68 million in stock before actually performing and executing at a top level?
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