Apple doling out stocks to retain top executives
It is said that when an emperor dies in the battle, other generals and soldiers start losing hope of winning. With the death of Steve Jobs, many people had started wondering about the future of Apple as they felt that executives and important people in Apple Inc would decide to move on and leave the company. They were wondering what will happen to Apple’s battle for retaining the success it achieved over the years.
More fuel got added to this fire of speculations when Siri founder Dag Kittalus quit Apple. However, not every key person left Apple.
Apple is doling out stocks of Apple Inc among the executives. This move is being seen by many as an incentive to to ensure that executives remain with Apple Inc. The executives who received 150,000 restricted stock units from Apple are Bruce Sewell, Peter Oppenheimer, Jeffrey Williams, Philip Schiller, Scott Forstall and Robert Mansfield. These stocks are worth approximately $ 60 Million each at the current stock price of Apple. Later it was revealed that stocks have been received by CEO Tim Cook and Jonathan Ive, Apple’s senior Vice President for industrial design, as well.
Source: New York Times