Apple for the day

Victor Luckerson has a Time article about pay at Apple:

How much does Apple care about its retail stores? Enough to pay more than seventy million dollars to the woman heading them up, making her the highest-paid exec at the company.
Apple recently revealed in an SEC filing that new hire Angela Ahrendts (photo, right) earned $73.4 million in 2014, almost all of it in stock awards. Ahrendts, the former CEO of Burberry, joined Apple in May of 2014 as the senior vice president for retail and online stores.
In the filing, Apple explained Ahrendts’ sky-high paycheck. “The recruitment of Ms. Ahrendts provided an extraordinary addition to the Company’s executive team with the experience and ability to lead both the retail and online businesses,” Apple wrote. “In determining her transition package, the Compensation Committee considered Ahrendts’ compensation arrangement at Burberry and the amounts that she was expected to receive in future years. At the time, Ahrendts was among the highest paid executives in the UK, and held unvested Burberry equity awards with a value of approximately $37 million.”
Part of the reason Apple’s been so generous to Ahrendts is because her job extends to much more than just managing the Apple Stores: the former Burberry head was brought on specifically for her fashion taste to help design an Apple Watch that would be visually appealing to customers. We’ll find out whether she succeeded when the new device launches in the spring of this year.

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