24 Jan '11, 1am

Google's outgoing CEO to get a US$100m 'award'

Google's outgoing CEO to get a US$100m 'award'

Google Inc will give a $100 million equity award to Schmidt as he hands over the chief executive officer job to co-founder Larry Page. -- PHOTO: REUTERS NEW YORK - Google Inc is set to give Eric Schmidt a $100 million (S$128 million) equity award as he hands over the chief executive officer job to co-founder Larry Page. The award, which will include stock units and options will vest over four years and is Mr Schmidt's first such award since joining the company in 2001, a spokesman said. News of Schmidt's equity award was first reported by Bloomberg. In a surprise announcement last week, Google said Mr Schmidt will take on the role of executive chairman in April and will be replaced as CEO by Google co-founder Larry Page. The news came on the same day that Google reported earnings and revenue that blew past expectations. But while Google has dominated Internet search, it ha...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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