Angela Ahrendts Makes Eight Times as Much as Apple CEO Tim Cook
When Apple’s SEC filing was published Thursday, the tech company revealed that Angela Ahrendts is their highest-paid exec. As the new SVP of retail, Ahrendts earned $73.4 million in 2014, $70 of which was in stock awards. By comparison, Apple’s CEO Tim Cook received $9 million.
The filing also revealed why Ahrendts, who officially joined the company in May 2014, got what she did. In her former position as CEO of Burberry, she was among the highest-paid executives in the UK. So Apple’s Compensation Committee “considered Ms. Ahrendts’ compensation arrangement at Burberry and the amounts that she was expected to receive in future years.”
Apple probably also considered Ahrendt’s track record of success: under her leadership, Burberry tripled their earnings.
Additionally, Time reports that Apple’s compensation package is in part because Ahrendts does more than manage the Apple stores. With her background in high fashion, she’s helping design an Apple Watch that will be aesthetically appealing to customers.
Ahrendts is accustomed to anchoring a company with one amazing product. See how she reinvented Burberry’s creative culture by leveraging the trench coat: