Steve jobs apple backdating
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."The company also announced that Fred Anderson, Apple’s former CFO, has resigned from its board of directors. Anderson, who served as CFO from 1996 until 2004, informed the company that he believes it is in Apple’s best interests that he resign from the board at this time.
SAN FRANCISCO (Market Watch) -- Steve Jobs has managed to revolutionize both the consumer electronics and entertainment industries, but the onetime wunderkind can't seem to shake the stigma of the stock-options backdating scandal that enveloped Silicon Valley in recent years.
This week, another former confidante to Jobs came under the microscope of federal regulators.
CUPERTINO, California — October 4, 2006 — Apple® today announced that the special committee of its board of directors has reported its findings after a three month investigation into Apple’s stock option practices.
The company will provide all details regarding their actions to the SEC."I apologize to Apple's shareholders and employees for these problems, which happened on my watch.
The company and its independent auditors are reviewing the findings of the independent investigation.
Management continues to believe, and the audit committee agrees, that Apple will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants.
Jobs and Wozniak co-founded Apple in 1976 to sell Wozniak's Apple I personal computer.
The visionaries gained fame and wealth a year later for the Apple II, one of the first highly successful mass-produced personal computers.