Google Reportedly Gives $100 Million to Outgoing CEO
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Google Inc. said it will give a $100 million equity award to Eric Schmidt, the outgoing chief executive, the Wall Street Journal reported Saturday.
It will include stocks and options, said a spokeswoman from the company.
The company on Thursday said Mr. Schmidt would become executive chairman to work on external matters such as partnerships and government relationships, the paper reported.
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Schmidt and Larry Page, a co-founder of the company, said the moves are intended to speed up decision-making at the top of the Internet giant, which on Thursday posted strong fourth-quarter results and said it generated more than $29 billion in 2010.
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