Why Angela Ahrendts Is Stalling Apple: Money



Apple’s incoming SVP of Retail, Angela Ahrendts, is one of Cupertino’s most widely anticipated hires in ages. The CEO of popular fashion chain Burberry, Ahrendts is so well-suited to lead Apple’s retail ambitions, and such a powerhouse executive in her own right, that many have wondered if Tim Cook is planning to have her replace him as CEO when he retires.

But when is Ahrendts going to join Apple officially? She was originally expected this month, but it’s now looking like she might push her start until June.

Why? Why else. Money.

The Guardian notes that Ahrendts can leave her gig as CEO of Burberry this month, according to the terms of her contract. But if she waits just three months more, she’ll collect an £8 million pound bonus. That’s definitely the kind of thing worth sticking around for.

Apple originally announced Ahrendts would join the team in the spring. A June date would push that into the summer. Ahrendt’s contract stipulates that she had to stay at Burberry for six months to assist in passing the crown to Christopher Bailey, Burberry’s Chief Creative Officer.

It’s possible Ahrendts will join Apple sooner than June. According to the Guardian, she is currently trying to negotiate a payout between Apple and Burberry that would allow her to leave in May instead of June. £8 million, it turns out, is a lot of money for even the world’s richest executives to turn their backs on.

Source: The Guardian