The former CEO of the UK consumer electronics retailer, Dixons, John Browett joined the company in April and relocated to California to take up the role.
The appointment of a person to head Apple's famously austere retail chains from another retail chain that is noted for focusing on the pile-it-high end of the market raised eyebrows in the industry as will the huge pay offer he has managed to negotiate.
The welcome package is to be paid over five years in the form of shares although it is not clear if the payment is performance related. He has been tasked with expanding Apple's retail operations, especially in Europe without compromising its standards.
The revelation of the payout comes just after Apple's new CEO, Tim Cook turned down a US$75 million payment he was due in dividends on his shares in the company - said to be an example against fat-cat pay awards.
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