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Google Inc.'s Eric Schmidt To Sell More Than Half Million Google Shares *PIC*

Google’s Newly-Minted ‘Executive Chairman’ Schmidt To Sell More Than Half Million Google Shares

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"Google Inc.'s Eric Schmidt, who is transitioning to executive chairman from chief executive, has plans to sell more than a half million company shares throughout the year as part of his asset-diversification plan, his first such sale in more than three years," Steven Russolillo reports for Dow Jones Newswires.

"The sales, worth about $335 million based on Google's closing price Thursday, will lower Schmidt's stake and voting power, and comes as Google announced that co-founder Larry Page will replace Schmidt as chief executive. Schmidt will become executive chairman in April," Russolillo reports. "The stock-trading plan, unveiled in a filing with the Securities and Exchange Commission, said Schmidt intends to sell as much as 534,000 Class A shares during the course of the year. The sale would represent a 6% drop in Schmidt's current holdings of 9.2 million shares."

LINK:
http://www.macdailynews.com/index.php/weblog/comments/28331/

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