TIME Retail

Apple Bets $68 Million on Ahrendts to Lead Retail Efforts

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

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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