Apple hires Burberry CEO Angela Ahrendts as a senior vice president

Apple will welcome Burberry CEO Angela Ahrendts as a senior vice president next spring.

Apple is entrusting the elegant stores that help define its brand to Angela Ahrendts, a respected executive who blended fashion sense with technological savvy to establish Burberry as a mark of luxury and success.

The hiring announced Tues­day is a coup for Apple Inc. Besides providing the Cupertino, Calif., company with another sharp mind, Ahrendts should help Apple deflect potential criticism about the lack of women in the upper ranks of its management.

Ahrendts will report directly to Apple CEO Tim Cook when she leaves Burberry to join Apple next spring in a newly created position of senior vice president in charge of retail and online stores.

– Associated Press

THE STOCK

Apple (AAPL)

Tuesday’s close:

$498.68 ▼ 2.64, or0.53%

52-week range $385-$653

Annual dividend $12.20

Dividend yield 2.4%

Price-earnings ratio * 12

Total return YTD 4%

3-year ** -39%

10-year ** -45%

Note: Total returns through Tuesday

* Based on 12-month results;
** Annualized

Source: FactSet, Associated Press

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