Internet giant makes stepping down a profitable affair.
While thousands the world over are clamouring to try and find employment at one of the best places in the world to work, Eric Schmidt earned a cool $100 million in stocks and equities merely by leaving his post of CEO.
In a regulatory filing Google said that the Stock and Options would be given to Schmidt on the 2nd of February and would vest over the course of 4 years. The 55 year old (now very rich) Ex-CEO will be succeeded by one of the founders of Google, Larry Page. Schmidt is to stay on with Google but now will hold the title of executive chairman.
Schmidt is also said to have quipped in a tweet that “adult supervision” is no longer needed at the company. With $100 million to play with it looks like Schmidt will be the one needing adult supervision. (Picture a Google-colours themed bouncy castle at the Schmidt estate)