3rd UPDATE: Ever since it was announced last week that Google CEO Eric Schmidt would be stepping aside in April and that co-founder Larry Page would take over the day-to-day operation of the search giant, everyone’s been wondering if Schmidt would make the move to TV. Today in Germany, at the Digital-Life-Design conference, he addressed those rumors simply by keeping the door open. When asked how long he plans to stay at Google, he responded, “As long as it’s exciting.”
2nd UPDATE: Just days after announcing that he’ll be stepping aside as Google’s CEO, Eric Schmidt is getting a pretty big bonus. Enormous, actually. He’s set to pocket $100 million as he steps into another role, with co-founder Larry Page taking over the day-to-day leadership. The whopping amount is a comprised of stock options and vests over four years. The $100 million award also comes as a Securities and Exchange Commission filing last week reveled Schmidt could be selling up to $335 million in stock — and also revealed how much stock he has actually amassed over his 10 years in the top job: 9.2 million shares.
UPDATE: Big Media moguls only can wish they’d reap a stock bonanza like this. In a regulatory filing with the Securities and Exchange Commission, it was revealed that Google Chief Executive Eric Schmidt, stepping aside in April after 10 years as CEO, will be selling what could amount to be $335 million in stock. As of the end-of-year 2010, Schmidt owned 9.2 million shares in Google. The company’s stock closed at $626.77 a share on Thursday. So what he’s planning to unload represents only about 6% of his total stock ownership. In Q4 earnings reported on Thursday, revenues rose 26% growth vs last year. Co-founder Larry Page will be taking over the CEO role.
PREVIOUS: Hollywood will soon have a new Google CEO to deal with. The company’s co-founder, Larry Page, will be replacing Eric Schmidt as chief executive of the Web giant in a surprise switch. That means Page will take over the day-to-day operations, while Schmidt becomes the company’s executive chairman. The move will take effect on April 4. Schmidt was the CEO since 2001, a position he took over at the time from Page. Google’s other co-founder, Sergey Brin, will still focus on strategic projects. In a conference call, Schmidt said Google will be streamlining things by “elevating me and having Larry running things day to day.” The announcement came as Google reported a fourth-quarter profit jump of 29% to $2.54 billion. Revenue jumped 26% to $8.44 billon.
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