Eric Schmidt the company and act as an adviser to co-founders Page and Brin. Google gave him a $100 million equity award in 2011 when he stepped down as CEO. On 4 April 2011, Page replaced Schmidt as the CEO. On December 21, 2017, Schmidt announced he would be stepping down as the executive chairman of Alphabet. While working at Google, Schmidt was involved in activities that later became the subject of the High-Tech Employee Antitrust Litigation case that resulted in a settlement of $415 million paid by Adobe, Apple, Google and Intel to employees. In one incident, after receiving a complaint
Executive compensation in the United States and Exchange Commission. Since the 1990s, CEO compensation in the U.S. has outpaced corporate profits, economic growth and the average compensation of all workers. Between 1980 and 2004, Mutual Fund founder John Bogle estimates total CEO compensation grew 8.5 percent/year compared to corporate profit growth of 2.9 percent/year and per capita income growth of 3.1 percent. By 2006 CEOs made 400 times more than average workers—a gap 20 times bigger than it was in 1965. As a general rule, the larger the corporation the larger the CEO compensation package. The share of corporate income devoted to compensating the five highest-paid