Top Apple boss Angela Ahrendts quits

ONE of Apple’s most highprofile executives Angela Ahrendts is stepping down after five years.

In a major blow for the technology giant, Ahrendts, 58, who had been tipped to succeed chief executive Tim Cook, will step down as head of retail in April.

Ahrendts, who was chief executive of Burberry from 2006 to 2014, is one of Apple’s highest paid executives and during her time at the technology behemoth has overseen a total revamp of its stores.

She is being replaced by Deirdre O’Brien, who has worked at Apple for 30 years and is currently head of people.

Ahrendts ( pictured) did not reveal her next career move but said she was leaving to pursue other opportunities.

She said: ‘ The last five years have been the most stimulating, challenging and fulfilling of my career.

‘Through the teams’ collective efforts, retail has never been stronger or better positioned to make an even greater contribution for Apple.

‘I feel there is no better time to pass the baton to Deirdre, one of Apple’s strongest executives.

‘I look forward to watching how this amazing team, under her leadership, will continue to change the world one person and one community at a time.’

In her first year at Apple, Ahrendts became the highestpaid female executive in the US, earning £65m including a signingon bonus.

And in 2017 she earned £17m – almost double the amount her boss Cook, 58, received at £9.5m.

Ahrendts, who is married with four children, has grown Apple’s retail estate to more than 500 stores around the world.

She has transformed Apple’s shops into so- called ‘ town squares’ that host workshops and music performances, while also overseeing the firm’s online operations in 35 countries.

Ahrendts was seen by many as a likely successor to Cook but dismissed the rumours as ‘ fake news’ and ‘silly’.

Her departure comes at a difficult time for Apple as it struggles to reverse falling iPhone sales as customers hold onto their old handsets for longer.

Last month, the company warned that its revenues could fall as much as 10pc in the three months to March.

Apple’s shares have fallen by more than a quarter since they peaked in early October.

But Ahrendts cashed in almost £12m shortly before the share price began to fall after she 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.

Cook last night hailed Ahrendt’s time at Apple as ‘transformative’.

‘I want to thank Angela for inspiring and energizing our teams over the past five years,’ he said.

‘ She has been a positive, transformative force, both for Apple’s stores and the communities they serve. We all wish her the very best as she begins a new chapter.’ Her departure will fuel speculation over her next career move, after she admitted during an interview with Vogue Business last month that she missed fashion.

She said: ‘You know, I loved fashion for 40 years.

‘ It is wonderful when you know everything there is to know about the industry because you grew up in it.

‘ There are things about the fashion industry that I miss, but I went to Apple because I felt it was a calling to one of the greatest companies on the planet.’