All Posts Tagged Tag: ‘Eric Schmidt’
Following the did-he-jump-or-was-he-pushed debates that surfaced last week, there’s good news for Eric Schmidt: vacating the role of CEO of Google will be more lucrative than working a normal job for a lifetime. It turns out Google intends to give Schmidt an awards package worth $100 million.
Ken Auletta, author of the book Googled: The End of the World As We Know It, has written an interesting piece for The New Yorker, claiming to know more about why Eric Schmidt has relinquished his CEO role to Google co-founder Larry Page (effective April 4).
Auletta, who claims to have conducted 11 interviews with Schmidt for the book, writes:
It may be quite a while before it’s possible say for sure whether Eric Schmidt chose a new position or was asked to step down, but in the meantime, no one needs to feel sorry for him. The soon-to-be ex-CEO of Google has submitted paperwork to clear the way for a stock sale worth about $334 million.
President Obama appointed General Electric CEO Jeff Immelt as chairman of the President’s Council on Jobs and Competitiveness.
Having worked with Immelt in the past, Ballmer apparently wanted the world to know where he stands. He released the following statement on the Official Microsoft blog:
As reported, Google CEO Eric Schmidt is turning over his CEO role to co-founder Larry Page, in favor of an Executive Chairman role. We sat in on a call with those two and co-founder Sergey Brin, who talked a little bit about the management strategy.
Listening to Google’s earnings call, the conversation began with the big news – Eric Schmidt is stepping down as CEO of the company. Unfortunately, not a whole lot of previously unavailable information came out of that, but there was a quick introduction of the news from Schmidt, Larry Page (who will take his place) and Sergey Brin, followed by a Q&A with those three. They apparently didn’t have the time to stick around any longer, so it went by very fast.
The next time you drink, eat, or maybe buy new furniture in the company of a Googler, consider letting him or her pick up the tab. Leaked info indicates that everyone at Google will get at least a 10 percent raise and a (post-tax) $1,000 bonus as part of an employee retention effort. Credit goes to Henry Blodget for obtaining …
It’s time again for Google’s shareholders to toss some confetti and raise glasses of not-particularly-cheap champagne. The search giant released its third quarter earnings report this afternoon, and it beat analysts’ forecasts by an impressive amount.
Google was supposed to report a net revenue figure in the neighborhood of $5.25 billion. Instead, the company was able to report $5.5 billion. Then it scored an even bigger victory in terms of earnings per share, managing to generate $7.64 rather than $6.67.
Any Google shareholders who have been concerned that Android might be costing the company money can find something else to worry about. Eric Schmidt indicated that the free mobile operating system is supporting itself and might at some point bring in $10 billion per year.
Last week, Eric Schmidt stated in an interview that Bing, not Apple or Facebook, is Google’s biggest competitor. Now Steve Ballmer has responded, essentially agreeing and indicating that Bing will continue to innovate and pose a threat.
Microsoft’s CEO told Sharon Pian Chan with respect to Schmidt’s comment, "He’s right! . . . We’re his best competitor, and we’re a very good competitor and we’re going to do a very good job."