"Jobs Apologizes for Apple Stock Option"
Looks like former Chief Financial Officer Fred Anderson is stepping down from the company's board of directors. He was the CFO for the time in question, which is too bad, because he was instrumental in getting Apple thru some of the worst times, keeping Apple liquid in developing new products while lots of producs were cut, so the revenue and expenses were all over the place.
biz.yahoo.com
AP
Jobs Apologizes for Apple Stock Option
Wednesday October 4, 5:19 pm ET
Apple CEO Steve Jobs Apologizes for Company's Stock Option Practices; Board Member Quits
SAN JOSE, Calif. (AP) -- Apple Computer Inc. CEO Steve Jobs apologized Wednesday for the company's past stock-option practices after a three-month investigation raised "serious concerns" in connection with the accounting, recording and reporting of grants.
The iPod and Macintosh computer maker also announced the resignation of former Chief Financial Officer Fred Anderson from the company's board of directors.
"I apologize to Apple's shareholders and employees for these problems, which happened on my watch," said Jobs, in a prepared statement. "We will now work to resolve the remaining issues as quickly as possible and to put the proper remedial measures in place to ensure that this never happens again." |
