On Air Now

Listen

Listen Live Now » 94.1 FM Jackson, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
61° Feels Like: 61°
Wind: SSW 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Partly Cloudy 77°

Tonight

Thundershowers 65°

Tomorrow

Thundershowers 82°

Alerts

Apple's new retail chief granted $68 million in restricted stock

Angela Ahrendts speaks at the IHT Heritage Luxury conference in London November 9, 2010. REUTERS/Paul Hackett
Angela Ahrendts speaks at the IHT Heritage Luxury conference in London November 9, 2010. REUTERS/Paul Hackett

(Reuters) - Apple Inc granted its new retail chief 113,334 restricted stock units, the company said in a regulatory filing on Monday, valued at $68.1 million based on Monday's closing share price.

Angela Ahrendts, a senior vice president and the highest-ranking woman executive at the company, will receive the shares spread over several different vesting periods between June 1, 2014 and June 14, 2018.

Ahrendts is the first woman to join Apple's executive team in nearly a decade and will take on an expanded role, overseeing its vast network of stores that employs about 42,400 people and online teams. Apple announced the appointment in October, but Ahrendts only started her job at Apple on May 1.

Prior to joining Apple, Ahrendts served as the CEO of Burberry Group Plc, where she oversaw a doubling in sales and a 250-percent jump in the shares of the British fashion brand.

(Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier)

(This story refiles to remove the extraneous word 'late' from the first paragraph)

Comments