Google’s outgoing chief executive Eric Schmidt, who is set to step down in April for co-founder Larry Page, is set to receive US$100-million in stock and stock options, as well as a possible talk show on CNN.
Google announced the compensation for Schmidt, who has served as chief executive of the Internet search and advertising giant for a decade, in a filing on Monday with the US Securities and Exchange Commission (SEC).
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The Mountain View, California-based company said the equity awards approved by Google’s board of directors will be granted to Schmidt, who has been earning a token salary of $1, on February 2 and will vest over a four-year period.
And in other news, it was revealed that the outgoing and outspoken chief executive has been consulting with a CNN producer about hosting a television show.
The New York Post reported on Monday that Schmidt, 55 has held talks with Liza McGuirk, executive producer of CNN’s “Parker Spitzer,” about developing a show featuring himself as host.
“Eric wants to be a talk-show host,” the Post quoted an unidentified source as saying. “He’s been working with Liza to develop a show, but he has not yet been picked up by any network.”
The Post said Schmidt filmed a pilot for CNN in August but quoted a “CNN insider” as saying it was a “complete disaster.”
Schmidt is widely credited with helping build Google into an internet search and advertising powerhouse with annual revenue of nearly US$30-billion.
But some of his public statements — often deployed in jest — have raised eyebrows in the past such as the time he said that Google’s policy with product development is to “get right up to the creepy line but not cross it.”
Or when he jokingly said that people could “just move” if they were unhappy with having pictures of their homes put online for Google’s Street View mapping service.
Schmidt is to remain with Google as executive chairman after stepping down as CEO on April 4. – AFP
