Financial News

  • 7 May 2014, 7:11

Ahrendts Secures 40m Apple 'Golden Hello'

Former Burberry chief executive Angela Ahrendts has been handed a 40m so-called 'golden hello' from her new employer, Apple.

A regulatory filing shows the 53-year old American was awarded more than 113,300 shares - currently worth $68.1m - on joining the company.

The awards - which are staggered but will fully vest over a period of four years - are conditional on her remaining with Apple.

Details of her wider remuneration were not disclosed.

She joined the iPhone and iPad maker on May 1 as its head of retail - seven months after her appointment to run Apple's store network and online store was first announced.

She was replaced at Burberry by chief creative officer Christopher Bailey, who has adopted both roles.

Ahrendts, who was credited with leading Burberry's evolution to a luxury global brand, is reported to have taken home 16mas part of a leaving settlement following completion of her notice period.

She said at the time her new role at Apple was announced: "I have always admired the innovation and impact Apple products and services have on people's lives and hope in some small way I can help contribute to the company's continued success and leadership in changing the world."

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