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back to article UK retail wiz makes $61m by turning up at Apple

The former boss of UK retail chain Dixons found himself - almost - $61m richer on Friday as he sat down at his new desk at Apple. Filings at the SEC show that John Browett took up his new role as senior vp for retail at Apple last Friday. The filings were flagged up by MacRumours amongst others, and can be viewed at the SEC …

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  1. Geoff Campbell Silver badge
    WTF?

    I still don't get this

    DSG are on a steady decline, and have been for years. So presumably this guy has presided over that decline, which as far as I can tell has been caused by a chronic failure to identify or create a customer base, or to engage with them with products and offerings that they want to buy.

    How on earth does this make him worth $61million and deserving of a VP position in one of the largest consumer technology companies on the planet?

    GJC

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    1. Arrrggghh-otron
      Reply Icon

      Re: I still don't get this

      Perhaps he is there as some kind of early warning system, a barometer of what not to do. They listen to his ideas and then do the opposite, that way the won't go into the steady decline of DSG?

      I'm clutching at straws...

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      1. The Godfather
        Reply Icon
        Joke

        Re: I still don't get this

        There could well be substance to your thoughts.....I guess this is a bit like someone falling onto an almighty soft cushion that delivers for you without you even trying to influence it.

        Mind you, if they do go in for extended warranties (as one of two suggests), check out of your Apple stocks.

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    2. Anonymous Coward
      Reply Icon
      WTF?

      Re: I still don't get this

      All I can think is that nobody from Apple has ever been in a Dixons store.

      Wait! Unless, of course...

      Extended warranties is going to be Apple's next big idea?

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  2. Paul Butcher

    Erm - do you not know what a share option is?

    Just because he has $61million in share options does not mean that he has $61million. It doesn't even mean that after they fully vest. It means that he has the option (hence the name) to *spend* $61million on buying shares at some point in the future.

    Of course, if Apple's share price has gone up in the interim, that's a great deal. And I wouldn't say no if someone offered them to me. But it's not like having $61million - nothing even close to that, in fact.

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  3. Paul Butcher

    Oops

    Oops - so I just read the filing. And they're not options, they're rights. So yes, he really is getting $61 million.

    Bloody hell.

    I'll get me coat...

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    1. Anonymous Coward
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      Anonymous Coward

      Re: I'll get me coat...

      So would I if somebody offered me that

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  4. Anonymous Coward
    WTF?

    when does 100 == 150 ..

    "Of course, Browett won't get those all at once - he'll get 5,000 after six months, 150,000 after a year, and then a further 20,000 each year. Assuming he lasts the pace."

    So he's eligible for 100,000 but gets 150,000 after one year ....

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    1. lurker
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      Re: when does 100 == 150 ..

      Guessing that was meant to be 15,000.

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  5. Alan Denman

    No bonus scheme?

    Seems to me that even Apple think they are in a bubble.

    I'd insist on rights too if I singed up.

    If it don't work out I might just consider removing a zero on my demands thugh am happy with the same to keep up standards.

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  6. Great Bu

    Exchange rates......

    I'm not too familiar with foreign currencies, how does $61,000,000 translate into better known currency e.g. how many whores and pounds of crack will that buy at today's prices ?

    (presuming he is going to splurge the lot on crack 'n' whores, otherwise, what's the point ?)

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  7. Anonymous Coward
    Anonymous Coward

    "Browett pulled the UK's ailing DSGI back from the brink - and turned it into somewhere you can almost bear going to"

    Thats a very subjective comment.

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