Breaking News:GOOGLE will pay Eric Schmidt $100 million as the 55-year-old executive gives up his CEO title to 37-year-old co-founder Larry Page, a company spokeswoman has confirmed.The massive payout, which will include stock units and options to vest over the next four years, followed Google's surprise announcement that Mr Schmidt's 10-year stint of giving "adult supervision" to Google's computer genius co-founders Page and Sergey Brin came to an abrupt end.Last week, prior to the announcement of Mr Schmidt's $100 million golden parachute, Google said the executive was slated to sell more than 500,000 shares over the next year under a preplanned trading program, which by current share prices would fetch $334 million. Read More:Breaking News:GOOGLE will pay Eric Schmidt $100 million as the 55-year-old executive gives up his CEO title to 37-year-old co-founder Larry Page, a company spokeswoman has confirmed.The massive payout, which will include stock units and options to vest over the next four years, followed Google's surprise announcement that Mr Schmidt's 10-year stint of giving "adult supervision" to Google's computer genius co-founders Page and Sergey Brin came to an abrupt end.Last week, prior to the announcement of Mr Schmidt's $100 million golden parachute, Google said the executive was slated to sell more than 500,000 shares over the next year under a preplanned trading program, which by current share prices would fetch $334 million. Read More:
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