Monday, 28 May 2012

A Golden ‘Golden Handshake’ for New Apple Boss

MAIL ONLINE: The former boss of PC World and Currys will reportedly receive a $56million (£36million) golden hello from Apple after taking charge of its retail arm.

John Browett was awarded the hefty payout from the technology giant following its poaching of him from Dixons Retail in February.

The payment, which will be staggered over five years and paid in shares, is likely to fuel the debate even further over executive pay.

The decision to set Mr Browett's salary so high comes after a series of shareholder revolts elsewhere, in which investors have overwhelmingly voted to reject company's pay reports. But boards have insisted that they must offer strong incentives in a bid to recruit the best talent and remain competitive.

The Sunday Times [£] reported that Mr Browett's annual package will be at least seven times his take-home pay at Dixons, according to documents filed with America's stock market watchdog.

The generous salary is not the first time Apple has been willing to spend vast sums on retaining or attracting senior staff. That's one heck of a welcome! New Apple boss to be handed extraordinary £36million 'golden hello' after being poached from Dixon » | Tom Goodenough | Sunday, May 27, 2012

THE TIMES: Browett has struck golden shot at Apple » | Murad Ahmed | Monday, May 28, 2012 [£]