Apple marketer given $60m share options to stay

By Sarah Shearman, marketingmagazine.co.uk, Monday, 07 November 2011 09:40AM

Apple has awarded its worldwide product marketing head Phil Schiller 150,000 share options, worth $60m, to persuade him to stay with the company through to 2016.

Philip Schiller: Apple’s senior vice president of worldwide product marketing

Philip Schiller: Apple’s senior vice president of worldwide product marketing

Half of the options can be exercised in 2013 and the rest in 2016.

Apple has handed out options to several senior executives in a bid to keep its top team in place following the death of co-founder and chief executive Steve Jobs last month.

Executives receiving the grants include chief financial officer Peter Oppenheimer, general counsel Bruce Sewell, hardware engineering senior vice-president Robert Mansfield, operations chief Jeffrey Williams and iOS software leader Scott Forstall.

Newly installed chief executive Tim Cook received one million share options when he took over from Steve Jobs in August.

Shortly after Jobs' death at the start of October, Apple reported a record financial quarter, with a year-on-year increase of net sales of $6.62bn to £28.27bn for the three months to 24 September.

Follow Sarah Shearman on Twitter @shearmans

This article was first published on marketingmagazine.co.uk

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