360° Coverage : Apple Gives $67 million To New Retail Chair

Apple Gives $67 million To New Retail Chair

The ex-Burberry CEO is now officially in charge and well paid

May 7 2014, 10:46pm CDT | by

Apple Gives $67 million To New Retail Chair
Photo Credit: Getty Images

Apple has now hired on the former head of Burberry to take control of their retail store situation and they are paying her well for her trouble.

The unrestricted stock payment totals $67 million, effectively making her the highest paid female executive in any public company in the United States. That according to Equilar, a compensation research firm located here.

Marissa Mayer, in comparison, was given just $60 million to take control of Yahoo recently. The payday comes in the form of over 113,000 shares of Apple stock that will be vested over the coming four years, giving her chances to sell off the shares if she decides to do so. This could end up being much more, however, as Apple stock remains strong and could rise in coming months with plenty of new products being introduced at the end of this year.

There are only 10 people on the executive team of Apple, of which she will only answer to CEO Tim Cook. The hope is that she will overhaul the retail experience and breathe new life into the slowed growth that they have seen recently. They are still on top of the game compared to almost every other company, but they are looking to enhance their growth even further than they have already.

Source: NYDailynews

 
 
 

<a href="/latest_stories/all/all/25" rel="author">Bijon Kumar Pramanik</a>
Bijon Kumar Pramanik is an experienced technology writer working since years in the consumer electronics field.

 

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