Ex-Burberry boss Angela Ahrendts gets $68m just for staying in her job at Apple

... and that's just at the moment. If Apple shares go up, so will her award.

by Emma Haslett

It looks like the Mac (as opposed to mac) business is a lucrative one: Apple has revealed its new senior vice president of retail and online stores, ex-Burberry chief executive Angela Ahrendts, will get 113,334 shares in the company, to be handed out from June 1 this year, and then over the next four years.

At the moment, that slice of the Apple pie is worth $68m. If the company comes up with a new gadget anytime soon, its value will go up. That’s what we call a golden handshake.

Ahrendts announced her departure from Burberry in October, cutting the number of female bosses by a third. She’s the second British retail boss to take on the role at Apple: her predecessor was ex Dixons chief exec John Browett, who lasted just six months in the job (but got a mere $55m of shares).

Tim Cook, Apple’s chief executive, seems optimistic: he’s described Ahrendts as ‘wicked smart’. Although Burberry itself is suffering slightly at the moment: having expanded rapidly into emerging markets at Ahrendts’ behest, in April it warned the strong pound could knock £30m off its profits this year.

We’ll leave you Ahrendts’ shiny new Apple corporate profile shot. Toto: we’re not in Kansas any more…

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