Apple welcomes former Dixon boss with £36m 'golden hello'
By Nick Batten, marketingmagazine.co.uk, Monday, 28 May 2012 09:25AM
Apple has awarded a $56m (£36m) "golden hello" to John Browett, the former Dixons boss who it recently poached to lead its retail division.
The payment consists of free Apple shares, currently worth $562 each, which will be distributed over five years.
He was hired by Apple in January and relocated to California in April, replacing Ron Johnson, who left Apple last June to take the helm of struggling US department store JC Penney.
Browett has been tasked with expanding Apple's retail presence from its current portfolio of 361 stores, including a major push into Europe, without compromising standards.
When Browett took the helm at Dixons it had been consistently under-performing. He has been credited with turning it around by focusing on customer service and relationships with suppliers.
News of Browett's windfall comes days after Tim Cook, Apple's chief executive, passed up $75m in dividend payments he was due to receive in the next decade, to "set an example" to others offered so-called fat-cat payments.
Follow Nick Batten on Twitter @NickBatten2
This article was first published on marketingmagazine.co.uk
- Senior copywriter story uk limited Negotiable depending on experience, Edinburgh
- Senior Marketing Manager Cutis Developments £50,000 - £60,000 per annum , Victoria, London (Greater)
- Group Account Director - Digital The Industry Club London Ltd Up to £75, London (East), London (Greater)
- Account Manager/ Senior Account Manager The Industry Club London Ltd up to £32k (AM) and £40k (SAM), London (East), London (Greater)
- Communications Manager (Brand) ActionAid £39,099 - £40,282 per annum, London (Central), London (Greater)
- What the end of Page 3 means for advertising
- Notonthehighstreet sponsors London Underground 'baby on board' badge
- Havas partners with Facebook's Atlas for multi-device ad targeting
- Has JCDecaux chosen the wrong time to abandon its trade body?
- Mother backs new integrated agency The Romans
- The Sun cuts topless models on Page 3