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£36 Million Golden Hello For New Apple Retail Boss

Apple is shelling out a reported $56 million (£36 million) on its new retail chief John Browett, who was lured from Dixons in February this year.

The weight of expectation on the former PC World and Currys boss is apparent, as Browett embarks on the opening months of his mission to fill the void left by Ron Johnson - who oversaw a $6.1 billion (£3.9 billion) sales intake in the final quarter of 2011.

The payment, staggered over five years and paid in shares, is at least seven times the pay he received at Dixons, according to documents filed with America's stock market watchdog.

Browett has become hot property in technology circles having revitalised Dixon's struggling business after joining at the end of 2007.

He now reports to CEO Tim Cook as Apple's Senior Vice President of Retail, taking charge of the company's 361 stores worldwide. Browett is the second Briton to join the senior ranks of Apple, flying the flag alongside design chief Sir Jonathan Ive, who was recently knighted.

News of the sky-high Browett salary comes in the wake of the anti-‘fat cat' example set by his boss Cook, after it emerged the CEO passed up $75 million (£48 million) in dividend payments he was due to receive over the next decade.

Source: Mail Online

Image: Guardian