Eric Schmidt

Eric Schmidt is Chairman and CEO of Google. He also sits on Princeton University's Board of Trustees. His net worth was estimated at over $6.6 billion in 2008. myDanwei: Eric Schmidt Stock Trade Records Schmidt lives in Atherton, California with his wife Wendy Schmidt.

On August 3, 2009, Schmidt resigned from Apple's Board of Directors. He left because he had a conflict of interest in many of Apple's businesses, particularly Google's Android and Google Chrome OS competing with Apple's iPhone OS and Mac OS X. http://www.apple.com/pr/library/2009/08/03bod.html BusinessWeek is reporting that Schmidt accepted no salary or stock for his service on Apple's board. http://www.businessweek.com/technology/content/aug2009/tc2009086_636640.htm

• Current Projects:
  • Chairman and CEO, Google
• Past Projects:
  • Software Manager, Sun Microsystems
  • CEO, Novell
  • Board Member, Apple

In April 2009, President Barack Obama created a special council to advise him on matters of science and technology. Google CEO Schmidt joined the council along with Microsoft chief research and strategy officer, Craig Mundie. Schmidt was a supporter of Barack Obama during his campaign for president.Bizjournals: Obama taps Google boss for science panel (April 27, 2009)

Eric Schmidt pioneered the 70/20/10 Model while at Google. The model is geared to cultivate innovation. It's made up for the follow directives:

1. 70% of time should be dedicated to core business tasks
2. 20% of time should be dedicated to projects related to the core business
3. 10% of time should be dedicated to projects unrelated to the core business

The Federal Trade Commission announced in May 2009 that they have launched a probe to determine whether or not having businessmen Eric Schmidt and Arthur Levinson serve on the boards of both Google and Apple violates the 1914 Clayton Antitrust Act which bars executive directors from serving on the boards of two competing companies.MarketWatch: Google, Apple boards probed by regulators (May 5, 2009) On August 3, 2009, Schmidt resigned from his position of Apple's board.