Eric Schmidt as the CEO of Google. He has served on various other boards in academia and industry, including the Boards of Trustees for Carnegie Mellon University, Apple, Princeton University, and Mayo Clinic. Schmidt was born in Falls Church, Virginia, and grew up in Falls Church and Blacksburg, Virginia. He is one of three sons of Eleanor, who had a master's degree in psychology, and Wilson Emerson Schmidt, a professor of international economics at Virginia Tech and Johns Hopkins University, who worked at the U.S. Treasury Department during the Nixon Administration. Schmidt spent part of his childhood in Italy as a result
Executive compensation in the United States Former SEC Chairman, William H. Donaldson, called executive compensation "and how it is determined ... One of the great, as-yet-unsolved problems in the country today." One factor that does "not" explain CEO pay growth is CEO productivity growth if the productivity is measured by earnings performance. Measuring average pay of CEOs from 1980 to 2004, Vanguard mutual fund founder John Bogle found it grew almost three times as fast as the corporations the CEOs ran—8.5 percent/year compared to 2.9 percent/year. Whether CEO pay has followed the stock market more closely is disputed. One calculation by one executive compensation consultant (Michael