Apple board supports Jobs
Jobs' innocence not open for debate.
By Jim Dalrymple, Macworld.com | Macworld UK | Published: 06:38, 26 April 2007
Apple's board of directors said it supports CEO Steve Jobs, despite former CFO Fred Anderson's claim that Jobs told him to backdate stock options.
"We are not going to enter into a public debate with Fred Anderson or his lawyer. Steve Jobs cooperated fully with Apple's independent investigation and with the government's investigation of stock option grants at Apple," read a statement from Apple directors Bill Campbell, Millard Drexler, Al Gore, Arthur Levinson, Eric Schmidt and Jerry York.
Anderson said he was told by Jobs in late January 2001 that Jobs had an agreement with the board of directors to grant stock options on 2 January, according to the statement from Anderson's attorney. Anderson "cautioned" Jobs that the grant for executives would have to be priced based on the date of the board agreement "or there could be an accounting charge," and also told Jobs the board would have to confirm it had given prior approval for the grant dates "in a legally satisfactory method."
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"The SEC investigated the matter thoroughly and its complaint speaks for itself, in terms of what it says, what it does not say, who it charges, and who it does not charge," said the statement from Apple's board.
Fred Anderson reached a deal with the SEC where he will pay a fine of $150,000 and will repay $3.5 million in options gains, but will continue to pursue a lawsuit against the other accused manager, former Apple general counsel Nancy Heinen.
"We have complete confidence in the conclusions of Apple's independent investigation, and in Steve's integrity and his ability to lead Apple," said the board.
