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Google's ex-CEO gets $101M pay package in new job

Former Google CEO Eric Schmidt receives $101 million package in 1st year as executive chairman By The Associated Press

SAN FRANCISCO (AP) ' Shifting from Google's CEO to executive chairman proved to be lucrative career move for Eric Schmidt.

Google Inc. awarded Schmidt a compensation package valued at $101 million last year. The amount disclosed in a regulatory filing is 322 times higher than the $313,219 package that Schmidt received in 2010 during his final full year as the Internet search leader's CEO.

Schmidt ended a decade-long stint as Google's CEO last April and turned over the job to Google co-founder Larry Page.

Shortly before the change in command, Google gave Schmidt stock and stock options awards valued at nearly $94 million. The rest of Schmidt's compensation consisted of a $937,500 salary, $6 million bonus and perks worth nearly $264,000.

Page received a $1 salary as CEO.

Both Page and Schmidt are multibillionaires.

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