Thursday, October 05, 2006

Former Apple CFO resigns following addition of Schmidt

Apple's former CFO, Fred Anderson resigned from its board of directors at the conclusion of an internal investigation that exonerates the rest of Apple's senior management. This follows the addition of Eric Schmidt to the board, lending credence to the speculation that Apple wanted to reinforce the credibility of it's corporate governance.

It's unclear as to whether this is the end or the end of the beginning of the controversy over it's past practice of options backdating, as it's the SEC's turn to review the findings. Anderson's comments over the situation in the quoted context imply that while he was responsible for the implementation of the practice, he wasn't directly responsible so.

UPDATE 1:46 AM: TUAW reports that two officers no longer with Apple were singled out in the report in relation to options accounting issues.

SOURCE: digg

No comments: