Executive Poaching

Mike Arrington, on TechCrunch:

Google may have paid as much as $150 million in stock grants to retain key product employees Sundar Pichai and Neal Mohan, say multiple sources. Both were offered the chief product role at Twitter earlier this year, but Google offered Pichai $50 million and Mohan $100 million, respectively, to stay, say multiple sources.

Which got me thinking: Why doesn’t Apple ever need to do anything like that? They have the best executive team in the world. There’s no doubt in my mind that companies like HP have tried luring away some of Apple’s executive talent, whether it be with cash, stock options, or some other incentive. But, like usual, Apple’s competitors are missing the point. C-level executives don’t work at Apple for the money. They do it because they love Apple. 

Here’s what Steve Jobs said back in 2008, about 8 months after the original iPhone went on sale:

When I hire somebody really senior, competence is the ante. They have to be really smart. But the real issue for me is, Are they going to fall in love with Apple? Because if they fall in love with Apple, everything else will take care of itself. They’ll want to do what’s best for Apple, not what’s best for them, what’s best for Steve, or anybody else.