Why Would the UK's Top-Paid CEO Leave for a Job at Apple?

In a surprise move, Apple announced Tuesday that it had hired Angela Ahrendts, the chief executive credited with turning Burberry around, as senior vice president of retail and online stores — a newly created position. Burberry, in an equally surprising and more unconventional move, announced that its chief creative officer, Christopher Bailey, will be adding Ahrendts' duties as CEO.

The hire is a huge coup for Apple: Ahrendts, 53, is arguably the most coveted CEO in fashion — and the best-paid CEO in the UK. Since taking over the helm of the company seven years ago, annual revenue has grown to nearly $3.2 billion, up more than 250% from 2006. The price of Burberry's stock has risen even further, up 300% since her arrival to about $1,600 per share Read more...