Move Over Tim Cook: Angela Ahrendts Earned $73.3 Million in 2014
Angela Ahrendts has out-earned Apple boss Tim Cook, or so it would seem. Barring Cook’s $154 million vested stock windfall in 2014, Ahrendts took in more than any other executive at Apple.
According to an SEC filing, the Guarding reported that Ahrendts earned $73.4 million in 2014 based on a $1 million dollar salary. As part of her package deal, Ahrendts received a cool $70 million in Apple stock. She also received a $1.6 million bonus plus a $500,000 signing bonus.
Cook’s salary doubled from the year before to $9.22 million based on a hefty $6.7 million bonus and a $1.75 million salary.
Ahrendts shared the 2014 Apple pay-out spotlight with fellow newcomer and chief financial officer Luca Maestri, whose stock package bolstered his earnings to $14 million.
Apple made it clear in their SEC filing that both Ahrendts’ and Maestri’s salaries will more closely resemble other executive salaries in 2015.
“Because the Company’s executive officers operate as a team, the Compensation Committee considers internal pay equity to be an important factor in its decisions on executive compensation,” the SEC filing said. “In subsequent years, Ms. Ahrendts and Mr. Maestri are expected to receive the same annual compensation package as other executive officers.”
Ahrendts started at Apple in May 2014. A former CEO from UK fashion brand Burberry from 2006 to 2014, the Inquisitr reported that Ahrendts more than doubled the value of the company during her reign from £2.1 billion to £7 billion. Apple naturally saw the value in bringing Ahrendts on board as Senior Vice President of Retail and Online Stores.
“She [ Ahrendts] shares our values and our focus on innovation,” Cook said in a company statement. “And she places the same strong emphasis as we do on the customer experience.”
Prior to Burberry, Ahrendts served as vice president at Liz Claiborne and was president of Donna Karan International earlier in her career.
Ahrendts holds a degree in Merchandising and Marketing from Ball State University. Her business success doesn’t surprise her youngest sister, Amy Montefalco.
“It just seems everything she does turns to gold.”
Ahrendts was ranked 49th on the Forbes’ 2014 list of the most powerful women in the world.
Ahrendts was born and raised in New Palestine, Indiana. She is the third-born of six children and was a member of her high school varsity cheer-leading squad. Ahrendts married her elementary school sweetheart after a 17-year long-distance relationship when she was in her 30s. They have three children and share a family home west of London.
