How much is a retail executive worth to Apple? About $67 million.
According to New York Daily News, Angela Ahrendts officially began her work at Apple as the Senior Vice President of Retail and Online Stores last week, after announcing in October 2013 that she was joining the tech company and leaving her position as CEO of Burberry.
The potentially whopping hiring bonus could push Ahrendts past the previous record of highest paid female executive held by Marissa Mayer (of Yahoo!), and her $60 million package.
Ahrendts was given 113,334 restricted Apple shares that will vest over four years.
With Apple’s stock hovering just under $600, that equals around $67 million for the 53 year-old former Burberry CEO.
“I am thrilled that Angela will be joining our team,” Apple CEO Tim Cook said in a press release, announcing her arrival at Apple. “She shares our values and our focus on innovation, and she places the same strong emphasis as we do on the customer experience.”
Apple’s retail stores have always done well, thanks to the leadership of former Senior Vice President of Retail Ron Johnson, who went on to become CEO of JC Penney before being fired due to poor performance.
Per square foot, Apple stores brought in more than $6,050 in sales, more than twice the runner-up, Tiffany & Co.