John Browett, former boss of PC World and Currys will receive a $56 million (£36 million) bonus from Apple for taking charge of the company’s retail arm, according to reports.
The payment will be spread out over five years and consists of free Apple shares, which are currently worth $562 each.
Hired by Apple in January, John Browett is replacing Ron Johnson, who left the company last June. Browett’s new role will see him in charge of more than 350 worldwide stores, with the aim of expanding Apple’s retail presence.
Bowett’s new annual package will be at least seven times his previous take-home pay from Dixons.
Want to receive up-to-the-minute tech news straight to your inbox? Then click here to sign up for the completely free PCR Daily Digest and Newsflash email services. You can also follow PCR on Twitter and Facebook.