Fadell gets $300,000 golden handcuffs Apple deal
Ex-iPod boss given bulky annual 'shut-up' salary
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The former iPod daddy Tony Fadell will receive a hefty payout in his new “consultancy” role at Apple – where he’s also required to keep schtum about the company’s secrets.
A US Securities and Exchange Commission 10-k filing has revealed that Fadell will be paid an annual salary of $300,000 until 24 March 2010 in his new role as advisor to Steve Jobs. He’ll also get a bonus and health benefits under the deal.
But there is a caveat: Fadell is expected to stay firmly on Apple turf and to ignore any rivals that might be sniffing around him for clues about the firm's ubiquitous MP3 player and its technology.
On Tuesday Apple confirmed that Fadell, who is credited as being the key player in the development of the iPod, was stepping down from his job as boss of the MP3 player division for personal reasons.
Apparently he wants to spend more time with his young kids and wife, Danielle Lambert, who is also set to leave her veep HR post at Apple at the end of this year.
Apple has already caused consternation at IBM after it poached Big Blue veteran Mark Papermaster from its rival.
IBM filed a lawsuit against Papermaster, who is set to replace Fadell, on 22 October in the US District Court for the Southern District of New York in which it alleged that he was “privy to a whole host of trade secrets and confidences” used by IBM to design products. No, the irony isn't lost on us either. ®
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COMMENTS
The real irony
is that nobody here apparently knows what "ironic" means.
All this talk of irony
Has made me realize that I've forgotten to do my laundry this week. That aside I think this is a wise move on the part of Apple. As was stated by the AC above, when you have key players stepping down who have been the backbone of your key product it benefits you to do your best to keep them around and out of others sandboxes. I'm quite certain that every manufacturer with or thinking about a portable MP3 player would love to get Fadell on board. This is just Apple being smart and protecting their interests.
Hell if I were the guy I'd happily take their 300K a year plus bennies for "consulting" IE: playing the PS3 with the kids all day and occasionally calling Jobs and asking what the weather is like.
Big Blue iPods?
I'm not sure what IBM's worried about. IBM makes big things, not teeny iPod-sized things. If Mr Papermaster (what a great name) was to put IBM's secrets to direct use in the iPod division, expect to see "the iPod Macro - three cubic feet of music-playing wonderment". Maybe he's just a smart guy and nerdy IBM is upset he's gone to play with the cool kids.
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