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Shock as Schmidt cashes up $335 million from Google

21 Jan 2011

Current CEO of Google, Eric Schmidt, has announced that he will stand aside from the CEO position to allow co-founder Larry Page to take centre stage. Read our full report here.

He has subsequently let loose through an US SEC (Security & Exchange Commission) filing that he may sell up to $335 million of Google common stock. Read the original filing here.

According to the SEC filing he has adopted a stock trading plan involving sales of over 534,000 units of Google stock.

Schmidt’s current ownership stake is worth a whopping $5.77 billion, only eclipsed by Larry Page and Sergey Brin.

Is Schmidt loosing faith in the Google machine or just buying a summer vacation home ? Tell us in the comments below:

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