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Saturday, February 09, 2013
Google Chairman To Sell 42 Percent of Stake

Google's Executive Chairman Eric Schmidt plans to sell more than 40 percent of his stock in the company this year.

According to a a filing with the U.S. Securities and Exchange Commission spotted by Rueters, Schmidt will sell up to 3.2 million shares, which mean that Schmidt would realize a $2.5 billion windfall, according to Google's current price.

Schmidt ended December with 7.6 million Google shares, or a 2.3 percent stake in the company.

Schmidt was Google's CEO for a decade before turning over the job to Larry Page in April 2011.

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