Schmidt gets $100m in Google stock on top of his $6m bonus

Google chair Eric Schmidt has gotten his second $100m dose of restricted stock units in less than three years. The Chocolate Factory said in a filing with the Securities and Exchange Commission that Schmidt was getting the stock award along with a $6m cash bonus for the year next week. The firm said the sizeable package was " …

[asdf]

hmm

Its easy to argue a lot of executives don't deserve the mint they earn but a bit harder to claim that with Schmidt. He was the adult in the room and is a lot of the reason why a decade from now Google will still be around and Facebook if it is will be hanging by a thread.

[Anonymous Coward]

Re: hmm

He wasn't there from the start, he was a hired hand from Novell (Novell who are they? ......exactly).

What business has he ever started and built from the ground up?

He's your typical management type. Get a job at a big name then move between big companies as your CV looks good. Ride the success waves at a big firm even though you probably had absolutely nothing to do with the success of that company.

[JDX]

What business has he ever started and built from the ground up?

Who cares? Running a massive corporation is not like starting a startup. Totally different in fact.

Look at GOOG's worth when he joined, and now. Case closed.

[asdf]

Re: What business has he ever started and built from the ground up?

Wow the first time I think I have ever upvoted JDX. Darn I must be wrong after all.

[Anonymous Coward]

Re: hmm

Actually, he's a geek. He wrote "lex", was recruited from Xerox Parc into Sun Microsystems, may have been employee #1 but I cannot remember, headed up numerous software operations within the company.

And despite sharing a peddle boat on the canals of Amsterdam in '87 (Sun's European kickoff) , never returns my calls :-)

[sorry, what?]

Bistromathics

Fine, Google's doing reeeally well, taking over the world and all that.

Fine, Google isn't doing anything other corporates aren't doing - CEOs for large corporates are (unfairly, IMHO) all paid disproportionately more than their average serf. I mean, employee.

But, come on. Does he, personally, contribute THAT much to the bottom line in a year? I doubt it.

[Anonymous Coward]

Re: Bistromathics

But, come on. Does he, personally, contribute THAT much to the bottom line in a year? I doubt it.

This is a beeelion dollar company we are talking about, imagine how much he could have LOST them with some bad decisions, so on the whole he probably did contribute THAT MUCH.

[Aybee]

Re: Bistromathics

As with presidents and prime ministers, they imagine the top job has a lot of power, until they land it. Then they start to discover who really calls the tunes and realise their role is to be a puppet and say things when told to.

[ratfox]

Re: Bistromathics

Just look at the news today about Google and the European Union, and I think you will have a pretty good idea of what he did for the company. He seems to be the one who has been in contact with Almunia.

When you think of it, Schmidt fits quite well in the role of diplomatic envoy to bureaucrats and politicians.

[Chris T Almighty]

Re: Bistromathics

His role is essentially political and if he was involved in the various deals to minimise their Tax liabilities then it's entirely possible he's earned them that and then some.

By the way, I'm not in any way approving of this behaviour! Just stating the fact...

[Anonymous Coward]

100m of Google stock?

How many rolls of toilet paper is that?

[Euripides Pants]

Re: 100m of Google stock?

A shitload...

[Anonymous Coward]

For what?

Being an obnoxious twat who doesn't see a problem with letting everyone but Google pay for vital infrastructure?

Not to mention driving people out of SF.

[samlebon2306]

How much is enough Mr. Schmidt?

[Anonymous Coward]

Come on now...

Ya can't expect a CEO in these days and age to skimp by on a measly $10-$20 million in annual compensation. That's the reason Tim Cook uses Chinese slaves to produce Apple products so he can get $700 million in annual compensation.

If you think these greedy bastards are a disgrace, you'd be right.

[Anonymous Coward]

Re: Come on now...

Cook DOES NOT get $700 million in annual compensation. He was granted 1 million shares of Apple, half of which vested five years in the future (2017, I believe) and the other half vesting ten years in the future (2022) This was a one time grant, and the $700 million figure was based on Apple's stock price at the time, it would be somewhere over $500 million today. While $50 million a year is nothing to sneeze at, it is a long way from your ridiculous claim.

With Schmidt getting $100 million every few years, he's getting a similar level of compensation as Cook is.

[Mikel]

He earned it

The company is growing like a weed. He was the CEO from before the IPO, so much of what he did positioned them to become the $380B company it has grown into. He achieved this despite considerable headwinds - the largest, most powerful tech company in the world spending billions a quarter and considerable influence to "cut off their air supply". In 10 years investors are up 9.4x their investment.

"Bind not the mouths of the kine that tread the grain."

[returnmyjedi]

So that's why he's so fond of capitalism. Maggie Hodge will be most dischuffed.

[Potemkine]

Out of sync

These people are real cash-addicts, they seem to live for the love of money