Google's Top 3 Executives Pledge 20 More Years
February 1, 2008 10:46 PM
comment(s) - last by
They did not sign in blood, Google's top brass pledge an oath of service to their company
One traditional problem area for big companies is the issue of executive turnover. A shining example of this is Yahoo, who over the Summer
had to install a new CEO
, Jerry Yang, and now
resignation of its chairman, Terry Semel
Competitor Google is aware of this potential pitfall, and its top executives are determined to do everything in their power to run a steady ship. In
magazine, which is set to run February 4,
Co-founders Larry Page and Sergey Brin, together with Chief Executive Eric Schmidt make a major revelation of a joint decision which will certainly effect the course of the company.
The trio apparently made a private pact, which they only now chose to unveil to the public, in August 2004, before the company's initial private offering.
They vowed that they would each commit at least 20 more years to the company and to working together. Schmidt states in the interview, "
We agreed the month before we went public that we should work together for 20 years."
In 2024, the expiration date for the pact, Schmidt will be 69,
Page will be 51, and Brin 50. Each of the executives is a billionaire, almost exclusively owing to the company they steer, which is now worth close to $170 billion USD. As well as being Chief Executive, Schmidt is also Chairman.
Brin is president of technology and
Page is president of products.
There is much curiousity on Wall Street over Google's 2007 revenue, which it will soon release. With an impending Microsoft and Yahoo deal, exactly how good the news is may have a significant effect on the company's stock price.
Still, some analysts may look to the announcement as a sign of some stability from Google, whose stock is oft disregarded as overvalued due to scarcity, with
share prices of over 700 dollars
This article is over a month old, voting and posting comments is disabled
Man you people are downers!!
2/2/2008 2:23:33 PM
@0 years is a long time, oh sure they're on top now but, etc, etc, bloody etc.
You are missing the point.
A 20 year pledge is good in that it stabilizes the management team that brought us Google, also it won't be stories of (and any one of them could sell out and take off right now) early retirement, sell outs, etc that tank their stock. (stability is good)
But look at it in another light:
20 years of running an organism that has given you the ability to research and develop any thing you could possibly want! You have a crap load of money, a crap load of engineers, the ears and eyes of the world, and damn it all,
Anyone here, who reads this tech site, honestly would cream or wet their pants at the opportunity of being in that spot.
Just think, "hey guys, lets make some Android consoles... Let's buy AMD." You could actually do it. You have the cash, the clout, the anything you'd need to pull it off. You also have the distinct advantage of being the "good" guy. (for now)
I think that friends coming together and saying hey, we have control of one of the most powerful internet-centric companies in the world, and can fulfill most any of our dreams... Lets not F# it up. Is a no-brainer, and a good thing.
Sure there will be battles to be fought, challenges that arise, and innovation and advances erupting... But damn it, they'll be at the center of it, with a hand strong enough to be at the center of it all. Thats where I'd want to be. A player, in the thick of it, with a damn good squad to back me.
RE: Man you people are downers!!
2/4/2008 3:37:23 AM
i use google on my pocket pc and my main pc before google went stock market
its the fastest search engine
before there were times where i cant get a connection anywhere (serious connection problems) else but i did with google
not to mention when u search u most likely find what ur looking for really quickly unlike other search engines (ive used alot of them) where the advertising gets in the way
RE: Man you people are downers!!
2/4/2008 10:21:34 AM
Sign me up man. I'll take phone calls and notes.
"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins
Yahoo Chairman Resigns, Microsoft Bid Offering Heats Up
February 1, 2008, 11:51 AM
Microsoft Offers to Buy Yahoo for $44.6 Billion
February 1, 2008, 10:00 AM
Google Gets Serious With Verizon and Sprint, Shares Hit 700
November 2, 2007, 9:17 AM
Yahoo CEO Resigns
June 18, 2007, 6:02 PM
Quick Note: Verizon May Become Canada's Fourth Major Carrier
June 18, 2013, 2:15 PM
BMI Files Lawsuit Against Pandora Over Royalty Fees, Radio Station "Stunt"
June 14, 2013, 1:28 PM
Ukranian-Led Cybertheft Ring Busted, Six East Coast Residents Arrested
June 13, 2013, 10:38 AM
Rep. Peter King (R) on NSA Leaks: Prosecute the Journalists
June 12, 2013, 4:00 PM
Comcast to Turn Customers Modems Into Quasi-Public Wi-Fi, Raises Legal Risks
June 10, 2013, 8:02 PM
Report: Google to Drop $1.3B for Waze Navigation Software
June 10, 2013, 7:43 AM
Most Popular Articles
Source: Don't Worry, NSA Spies on "99 Percent" of Americans' Locations, Call Records
June 14, 2013, 3:57 PM
Xbox Chief: If You Can't Get Online, Don't Buy an Xbox One
June 12, 2013, 9:57 AM
GigaHertz Wars 2.0? AMD Releases World's First 5.0 GHz FX Processor
June 11, 2013, 3:16 PM
Former Palm CEO: Selling Palm to HP was a Waste
June 12, 2013, 10:19 AM
Report: Apple to Release Larger iPhone Screens, Cheaper iPhone for $99
June 13, 2013, 9:41 AM
Latest Blog Posts
Lumosity: Does it Work?
May 22, 2013, 8:20 PM
Quick Note: Sony "Teases" PS4 Ahead of Xbox Reveal in New Video
May 20, 2013, 12:33 PM
Nokia Introduces Instagram-Like App of Its Own to Help Lumia Sales
May 20, 2013, 7:10 AM
Parents of Pre-Teen Drivers Commonly Practice Distracted Driving Says Study
May 9, 2013, 7:16 AM
Apple's iOS 7 Running Into Internal Delays Due to Massive Overhaul
May 1, 2013, 4:26 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information