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Reuters / Rick wilkings
KOMPAS.com - Former Chief Executive Officer (CEO) Eric Schmidt, Google Inc. has just given a "severance" as a thank you for his care of Google Inc. over the years. It was mentioned by the Google on Monday (1/24/2011) on the sidelines of the process to obtain legal documents.
Severance is not cash. Additional property rights will be given to Eric Schmidt on February 2, 2011 in the form of stock options, additional property rights (equity) worth 100 million U.S. dollars.
In accordance with legal documents that are reported to the Security Exchange Commission, last week, Schmidt, Google's stock had actually pocketed about 9.2 million U.S. dollars as of December 31, 2010. The amount is equivalent to 2.9 percent of Google's overall share of voting rights only 9.6 percent.
Previously, Schmidt plans to sell 534,000 shares of Class A property. If he really would do that, he still leaves about 9.1 percent of the voting rights on Google. Google Inc. shares last price 613.15 U.S. dollars per share.
With the provision of equity (stock option) of this new Google actually acknowledged by Schmidt's performance lifted Google's brand value and increase personal wealth Schmidt. You could say this is good tactics from Larry Page, Google co-founders, who now takes over as CEO of Google.
Schmidt himself will remain in Google as executive chairman. During the 10 years since becoming CEO at Google in 2001, Eric was a role as well as a mentor for two Google founders, Larry Page and Sergey Brin. Now his disciples might be ready to act alone. (Kompasiana / Gusti Bob)
Wednesday, January 26, 2011 21:44 pm
Source: Kompasiana
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