John Browett, former UK boss of PC World and Currys, will receive £36m as a starting bonus following his recent appointment as head of Apple’s retail arm.
The payment will be paid in stages over five years in the form of shares. Browett's annual package is understood to be around seven times his take-home pay at Dixons.
The news follows reports last week that Apple CEO Tim Cook refused around £48m in dividends from over one million shares.
In a filing with the U.S. Securities and Exchange Commission last week, Apple said Cook had requested his restricted stock units not receive dividends.
Browett, who heads up Apple's 361 stores worldwide, has a track record in retail. He was formerly head of Tesco's internet shopping division before joining Dixons at the end of 2007, where he helped the company see off the challenge of US firm Best Buy, which earlier this year shut its 10 'Big Box' megastores in a joint venture with Carphone Warehouse.
Browett has been tasked with expanding Apple's retail presence from its current portfolio of 361 stores, including a major push into Europe.