The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Board Responds to ex-CFO Claims

Apple Board Responds to ex-CFO Claims

by , 4:35 PM EDT, April 25th, 2007

In an uncharacteristic move, Apple Inc's Board of Directors responded to the accusations from former CFO Fred Anderson that Steve Jobs was aware of the implications of improperly backdating stock option grants. The board said in a statement that Apple will not enter into a debate with Mr. Anderson or his attorneys over Mr. Jobs's involvement in the backdating issue.

The statement from board members Bill Campbell, Millard Drexler, Albert Gore Jr., Arthur D. Levinson, Eric Schmidt and Jerry York stated in part "Steve Jobs cooperated fully with Apple's independent investigation and with the government's investigation of stock option grants at Apple. 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."

In essence, the Apple Board responded to Mr. Anderson's allegations to state that it would not respond.

After agreeing to a settlement with the Securities and Exchange Commission on Tuesday, Mr. Anderson released a statement through his lawyer claiming that he advised Mr. Jobs of the accounting implications when backdating stock option grants - Implying that Mr. Jobs was directly involved in improper stock option grant backdating and was aware of the possible consequences.

The board also stated "We have complete confidence in the conclusions of Apple's independent investigation, and in Steve's integrity and his ability to lead Apple."

Recent Headlines - Updated May 24th

Wed,3:10 PM
How to Deauthorize All Devices in iTunes 12
Sat,10:30 AM
How to Decide Between a Smartswitch and a Timer for Your Smarthome
Fri,6:47 PM
1987 Apple Promo Video Hints at Hubris of the 1990s
3:29 PM
Blur Premium Privacy Protection Lifetime Subscription: $49.99
2:55 PM
Apple May Finally Be Ready to Reinvigorate the iPad
2:39 PM
Google Study Finds ‘Security Questions’ Next to Useless
1:08 PM
TMO Daily Observations 2015-05-22: Fingerprints to Google and Apple Watch Heartrate Monitoring
11:16 AM
Apple Watch OS Update Reduces Background Heart Rate Monitoring Frequency
10:10 AM
Apple’s App Store Needs Cold Storage
8:30 AM
Apple Watch: Three Tips on Contacting Your Pals
Thu,5:44 PM
Promotional Apple II Video with Steve Jobs, Steve Wozniak, Byte Shop
4:47 PM
Google Reportedly Plans to Fingerprint ID to Android M
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!