TIME Retail

Apple Bets $68 Million on Ahrendts to Lead Retail Efforts

ahrendts
Peter Foley -- Bloomberg / Getty Images Angela Ahrendts, former Burberry CEO and new Apple retail SVP, seen holding an iPad in 2013

Apple has been looking to return some stability to its retail operations since Ron Johnson’s departure back in late 2011. His successor, former Dixon’s CEO John Browett, lasted a mere six months.

As a nice bit of incentive, Apple’s latest SVP of retail, former Burberry CEO Angela Ahrendts, is poised to receive north of 113,000 Apple shares — worth around $68 million — doled out over the next four years, with the first vesting period occurring June 1.

That first haul on June 1? A cool $9.8 million, reports CNN. And Ahrendts can lay claim to around $10.5 million in stock options from her former employer, “even though those options were not supposed to pay out until June,” says CNN.

Not a bad first couple of months for Ahrendts, in other words. Apple’s stock also recently cleared $600 per share for the first time since 2012 on the tail of an announced 7:1 split set to happen in early June.

[CNN]

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