CEO Awards
Most Respect CEOs
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CEO Profile
Eric Schmidt - CEO of Google Inc
Company Profile
Industry: Internet Search, Media and
Advertising
Employees: 21,800
Revenues: $26.21B
Market Cap: $150B
CEO Achievements
Since joining Google in March 2001, he has helped
grow the company from a Silicon Valley startup to a global company.
Today, Google is the Internet’s premier brand for search, media and
advertising.
Half of Google's revenue comes from selling text-based ads that are
placed near search results and are related to the topic of the
search. Another half of its revenues come from licensing its search
technology to companies like Yahoo.
As the CEO of Google, Eric has delivered steady
growth while expanding Google’s global reach. He attributes this
success to Google’s ability to attract and develop top talent. He
built an organization and a work environment that allowed the free
flows of information and encouraged employees to innovate. Google
internal work model is based on innovative collaborative projects.
Staff devote 20 percent of
their work time to special projects of their own design, a policy that is at the core of its innovation
culture.
Google organizational and human capital strategy
is summed up by Ivan Ernest, Head of HR, Engineering & Operations.
"Hire learners. Trust them: give them freedom, information and
tools. Small projects, small teams. Flat structure. Discuss
everything in public. Be meritocratic. Reward success, but don’t
penalize failure.
While CEO of Google in 2008 and 2009, Schmidt earned a base
salary of just $1, and other compensation of $508,763 in 2008 and
$508,763 in 2009. He did not receive any cash, stock, or
options. Schmidt is one of the few people who have become
billionaires based on stock options received as an employee in a
corporation.
CEO Bio
Eric Schmidt left Novell after the acquisition of Cambridge Technology
Partners. He was interviewed by the founders of Google, Larry Page and Sergey Brin
and hired him to run their company under the influence of venture capitalists
John Doerr and Michael Moritz.
At Google, Schmidt
shares responsibility for Google's daily operations with founders
Page and Brin. Google is a triumvirate (from Latin, "of three
men") a political regime dominated by three powerful individuals.
Schmidt focuses on building a global corporate infrastructure
needed to maintain Google's rapid growth as a company and on
ensuring that quality remains high while product development cycle
times are kept to a minimum.
Schmidt's technical and business background uniquely
prepared him to lead Google. Prior to joining Google, Eric was the CEO of Novell
and Chief Technology Officer at Sun Microsystems, Inc. Earlier in his career, Eric was a member of the research
staff at Xerox Palo Alto Research Center (PARC) and held positions
at Bell Laboratories and Zilog. He holds a bachelor's degree in
electrical engineering from Princeton University as well as a
master's and Ph.D. in computer science from the University of
California, Berkeley.
Eric is a member of President Obama's Council of Advisors on
Science and Technology. He was elected to the National Academy of
Engineering in 2006 and inducted into the American Academy of Arts
and Sciences as a fellow in 2007. Eric also chairs the board of the
New America Foundation. A former member of the Board of Directors of
Apple Inc. He also sits on the board of trustees for Carnegie
Mellon University and Princeton University.
CEO Insights
I'm able to bring business expertise but, more
importantly, operating experience. The people here at Google are
young. Every day there are lots of new challenges. I keep things
focused. The speech I give everyday is: "This is what we do. Is what
you are doing consistent with that, and does it change the world?" -
Eric Schmidt, CEO of Google Inc
Search companies, which I won't mention by name,
tried to do so many things at the same time, they forgot all about
search. They either missed the next revolution of search or they
created an opening for a Google to enter. - Eric Schmidt, CEO of
Google Inc
Technology is always evolving, and companies..
not just search companies.. can't be afraid to take advantage of
change. - Eric Schmidt, CEO of Google Inc
The thing that people seem to miss about not just Google, but also
our competitors, Yahoo, eBay and so forth, is that there's an awful
lot of communities that have never been served by traditional media.
- Eric Schmidt, CEO of Google Inc
We weren't here to hope and hang on. We wanted to
win. - Eric Schmidt, CEO of Google Inc
When the Internet publicity began, I remember
being struck by how much the world was not the way we thought it
was, that there was infinite variation in how people viewed the
world. - Eric Schmidt, CEO of Google Inc
Anytime you're in a pressure situation you find
out who's going to step up and do it and who's going to fade into
the background - Eric Schmidt, CEO of Google Inc
The competitive threat has been a big overhang on
the stock and I would say about half that has been lifted. - Eric
Schmidt, CEO of Google Inc
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