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
- Marketing Executive or Marketing Manager air recruitment £28k-£35k dependent on experience, London (Central), London (Greater)
- B2B Lead Generation Sales Manager Ultimate Asset £20000 - £40000 per annum + Uncapped Commission, London
- Out of Home Sales - Huge digital potential! Ultimate Asset £20000 - £75000 per annum + Excellent Commission Potential, London
- Planning Manager - Unique Opportunity! Ultimate Asset £30000 - £45000 per annum + Bonus and Benefits, London
- Comms Manager - Top 5 global media agency - GAMING ACCOUNT Ultimate Asset £4000 - £35000 per annum, City of London
- Black horse returns in new Lloyds Bank campaign
- The man who made Grey matter
- Watch: Every Grand Prix winner from Cannes Lions 2015
- 'You're thirsty. We've got sales targets', says Oasis in summer campaign launch
- Heineken selects Publicis Worldwide to be lead global creative agency
- Yorkshire Tea launches £5 million campaign