iPod creator gets generous Payout
Apple executive Tony Fadell is stepping down from his duties as Senior Vice President, iPod division to take up an advisory role to the CEO. The move is practically a retirement from the everyday cut and thrust of Apple business for the man who reputedly came up with the idea for the iPod, the new role advising Steve Jobs is thought to be far less demanding.
As you would expect for a man who was such a valuable employee, Fadell has been looked after impressively. He will receive a $300,000 dollar yearly salary (60% of his former pay) along with 77,500 restricted stock units, currently worth $8.4 million dollars.
If it really is true that Fadell invented the defining gadget of the last decade then it’s of course fair enough that he should be looked after in this way. However, I think there may be more than gratitude at play here, particularly in the current climate of industrial espionage and corporate skulduggery. This cushy position may have been justified on the grounds that there are a number of companies that wouldn’t mind having a man of Tony Fadell’s stature on their staff, because of his undoubted ability but also because of what he knows about Apple.
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