Apple awards new retail boss Angela Ahrendts $68m in shares

Apple has welcomed it new retail executive Angela Ahrendts with a stock grant worth up to $68m (£40m).

Ahrendts left her role in Britain as chief executive of luxury brand Burberry to take up the US-based job with Apple.

The move comes as Apple’s share price has soared, hitting $600 for the first time since October 2012.

Her predecessor, John Browett, who joined Apple from British electronics retailer Dixons was also awarded huge stock grants, worth up to $55m upon his appointment.

She will receive 85% of the value of the stock over a period of four years, regardless of performance, as long as she stays at the company.

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