Google makes good with CEO Eric Schmidt - WKOW 27: Madison, WI Breaking News, Weather and Sports

Google makes good with CEO Eric Schmidt


NEW YORK (WKOW) -- Things might be calming down for Google. A spokesperson says it has awarded $100 million worth of equity to outgoing CEO Eric Schmidt.

Google Inc. said in a filing on Monday the stock and stock options will be granted on Feb. 2 and will vest over four years.

The 55-year-old Schmidt is being replaced as Google's CEO by co-founder Larry Page. Both men, along with Google's other co-founder Sergey Brin, have limited their salaries to $1 for years. But the three are Google's controlling shareholders.

Schmidt will stay with Google and serve as executive chairman starting in April, when the 37-year-old Page takes over the CEO role.

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