Don't Be Evil - Restoring the Public Trust in Business, Politics and the Media

Don't Be Evil - restoring the public trust in business, politics and the media


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			Poynter Google's Ten Things Conflict of Interest

Google to split Chairman, CEO positions - 5/06/2004 10:45:00 AM

Google's CEO, Eric Schmidt, is no longer CEO of the company. A San Francisco Chronicle story attributes this to improving corporate governance and to "make the board more responsive to shareholders rather than a rubber stamp for management decisions."

The move is designed to improve corporate governance and accountability to shareholders. Google has been criticized for limiting shareholder control by limiting the voting rights of the new shares that will be issued in the IPO.

"The point of having a separate CEO and chairman on the board is to create a balance of power," said Paul Hodgson, a senior research associate with Corporate Library, a private research firm in Maine focused on corporate governance issues.

The article notes that Siebel and Dell have also split the Chairman and CEO positions.

Disney's CEO, Michael Eisner, was recently forced to relinquish the Chairman post by a shareholder revolt.

This study examines the relationship between good corporate governance and investment return, and finds that the more accountable companies are to stakeholders, the higher the returns in investment.

Please see our sister site for more on the Google IPO.