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
- Campaign Marketing Manager EMAP Competitive + Bonus, London (Greater) / London (East), London (Greater)
- Exhibition Designers WRG Live Competitive salary and benefits package dependant upon experience, Manchester, Greater Manchester
- Producer WRG Live Competitve salary and benefits package dependent upon experience, London (Central), London (Greater) / Manchester, Greater Manchester
- Content Manager WRG Live Competitive salary and benefits package, Manchester, Greater Manchester
- Retail Store Designer Fashion & Retail Personnel Consultancy £30000 - £33000 per annum + bonus and benefits, London
Agency: Wieden & Kennedy New York
- Macmillan defends hijacking ice bucket challenge
- Comparethemarket.com first UK brand to run Facebook Premium Video ads
- Game Of Thrones actress stars in online Karen Millen campaign
- Guinness Africa launches 'made of black' campaign with Kanye West ad
- Twitter launches learning hub for agencies
- Uncle Ben's launches YouTube cooking show