Sam Oliver
Browett began his new position at Apple last week on April 20, according to a new filing with the U.S. Securities and Exchange Commission. The filing, first noted on Wednesday by MacRumors, reveals that Browett received 100,00 restricted stock units on Friday worth about $61 million.
The first 5,000 shares issued to Browett will fully vest on Oct. 20 of this year, and an additional 15,000 units will vest after his first year with Apple. His remaining shares will continue to vest in the amount of 20,000 each year on April 20.
It was first revealed in January that Apple had hired Browett as the company's new senior vice president of retail. He was previously the chief executive of European retailer Dixons, and he holds a degree in Natrual Sciences from Cambridge University and an MBA from Wharton Business School.
Browett replaced Ron Johnson, who was instrumental in the formation of Apple's retail business nearly 11 years ago. Johnson left the company last fall to become CEO of JC Penney.
Some pundits questioned Apple's hiring of Browett, noting that he is an outsider to the company's operations. But Apple Chief Executive Tim Cook was said to have defended the hire in an e-mail, noting that he talked to many people and Browett was "the best by far."
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50 Comments
Beats Dixons
Not problem with this except it should only be offered after a two year period to prove he is up to the job.
Hopefully, he will use some of the money to find a new barber.
Seems excessive and unnecessary. His predecessor would of probably deserved it but he built the operation from the ground up and contributed heavily to share-holder value. This guy is coming in and pretty much avoiding hitting an ice burg which isn't an extremely hard skill in extremely limited supply.
I hope his fellow Brit Jony Ive is this well compensated. At least he has a track record at Apple that would deserve it. What track record does Browett have? I have a hard time believing Apple would need to throw that much $$ at someone in order to get them to come work for them.