We reported a while back that Apple had started an investigation about whether its rewarding system with stock options had contained any mishaps. The investigation has now been finished and it seems there has been a few things that not entirelly correct. These are dated back between 1997 and 2002 though and no one of today’s management has been accused of any mismanagement. One of the responsible for the period, Fred Andersson, Chief Financial Officer 1996-2004, has already left the Apple’s board of directors. Other companies have announced that they will also look over their stock option programs, incl. Microsoft, to make sure similar things doesn’t happen to them. Exactly how many heads that will roll after this remains to be seen, but we should be able to expect a few more.
“I apologize to Apple’s shareholders and employees for these problems, which happened on my watch. They are completely out of character for Apple” said Steve Jobs, Apple’s CEO. “We will now work to resolve the remaining issues as quickly as possible and to put the proper remedial measures in place to ensure that this never happens again.”
