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
2/2/2008 8:36:43 PM
That's your opinion, of which you're entitled to, but I'd never go back to XP, and the market gobbled up 100 million copies of Vista within 11 months of release (not including the holiday season). Those that complain about Vista as "crap" tend to be a minority, but a vocal one. It's superior to XP, Linux for the desktop and Leopard (only because its not available for non-Apple systems) and that's all that particularly matters when we're talking about corporate performance. It's selling, their other stuff is selling, and Microsoft posts good numbers.
I thought Crocs were crap too, if I'd looked at things the way you do I'd of missed a stock that sure ramped up a ton and a company that performed well.
2/2/2008 10:55:47 PM
About leopard: Just do it the other way around with BootCamp ;)
"Mac OS X is like living in a farmhouse in the country with no locks, and Windows is living in a house with bars on the windows in the bad part of town." -- Charlie Miller
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