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
- Quantitative Consultant / Research and Strategy / London c.£35k Trace £35,000, Central London
- Qualitative Consultant Trace £30,000, Central London
- Corporate Comms Artworker - 5 month contract Network Career Consultants £33000 - £38000 per annum, London
- Digital Marketing Executive Mackenzie Carter £18,000 - £22,000, Richmond upon Thames, London (Greater)
- Freelance Multi-lingual Project Manager Purple Consultancy £160 - £170 per day, London
- Will.i.am clashes with Martin Sorrell over online ads in Cannes
- Black horse returns in new Lloyds Bank campaign
- Geometry Dubai hands over Cannes Grand Prix amid controversy
- Aston Martin appoints WPP to global marketing account
- Cannes 2015: Highlights from the Campaign beach party
- UK wins four gold Film Lions