Apple’s highest-paid executive Angela Ahrendts cashed in before shares tanked
Angela Ahrendts sold 64,194 Apple shares at $228-$233 between October 3 and 5
The former Burberry boss who is now Apple’s highest-paid executive sold almost £12million worth of the tech giant’s shares when they peaked in early October.
Angela Ahrendts (pictured) sold 64,194 shares at $228-$233 between October 3 and 5. The share price peaked on October 3, meaning she cashed out at the most opportune moment.
Apple has since lost 37 per cent, nearly £320billion, of its value.
Ahrendts was chief executive of Burberry from 2006 to 2014 before Apple poached her to become the company’s head of retail.
In her first year she became the highest-paid female executive in the US, earning £65million including a signing-on bonus.
Last year, Apple became the world’s first trillion-dollar company in August as shares hit a record high.
But they have been on the slide and fell 10 per cent on Thursday due to lower demand for iPhones.