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Schmidt to hand over Google's reigns to Larry Page |
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Google, in a regulatory filing, has said that members of its Leadership Development and Compensation Committee of Google’s Board of Directors (LDCC) has approved equity awards for CEO Eric Schmidt in the aggregate amount of $100 million. Earlier, Schmidt announced changes to the structure of Google's top management, after discussion with fellow founders Larry and Sergey, to simplify the structure and speed up decision making.  As part of the announced changes, Larry Page will now lead product development and technology strategy, and take on the charge of day-to-day operations as Google’s Chief Executive Officer starting April 4 . Schmidt's blogpost hinted that this would be a decade long tenure, when he said that while he was proud of his tenure as CEO, “I am certain that the next 10 years under Larry will be even better!” Sergey Brin, Schmidt said, would retain the title of Co-founder and will look at strategic projects, “in particular working on new products.” Schmidt himself moves on as Executive Chairman, and will try to focus on areas “wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership that are increasingly important given Google’s global reach; and internally as an advisor to Larry and Sergey.” Schmidt has been awarded Google Stock Units (GSUs) of approximately $55.6 million and an option grant value of approximately $44.4 million, which will be granted on February 2, 2011. |
LISTS AND RESEARCH
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Global Software Top 100 - Edition 2011
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Software industry trends (2011)
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CRM companies: a short list
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- A research publication discussing the trends and the key players in the software industry in the United States. Posted 15 December 2010.
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