Friday, April 8, 2005
Google Founders, CEO decline salary
I'm impressed. Reminds me of the days Steve Jobs returned to Apple and received a $1/year salary, I think it was. Don't see this very often at other companies that also went thru pretty heady days until very recently...and their top execs are worth hundreds of millions if not several billions. According to this Wall Street Journal story (subscription required)
Google also said in the filing it recently offered Messrs. Schmidt, Brin and Page an increase in salary and bonus for 2005 based on the company's continued strong performance and on their leadership. However, the three executives declined the offer and continue to receive salaries of $1, the filing said.
Google said it made no stock-based compensation awards to the seven top executives named in the proxy in 2004. The company said that stock-based compensation, however, remains a "fundamental driver of its pay-for-performance philosophy and achievement of long-term business objectives."