In addition to solid first quarter earnings, Google announced that CEO and potent quotable Eric “Dr. Strangelove” Schmidt is to step down as of April 4. Without any signaling of such a dramatic transition, you’d think the market would be poised to ignore Google’s financial reporting and tank the stock. After all, Google’s fearless leader is ambling off into the sunset. Instead, the market shrugged and the stock is trading at same price it was at the bell yesterday. Imagine the sell-off a Jobs resignation announcement would create; news of his leave of absence resulted in a week-long $15/share selloff – despite Apple’s utter annihilation of Q1 expectations.
In honor of Schmidt’s announcement, here’s a short list of some of his most memorable quotes, which I’m sure had no bearing whatsoever on his departure.
“One day we had a conversation where we figured we could just try and predict the stock market…and then we decided it was illegal. So we stopped doing that.”
Question from attendee at information session: “All this information that you have about us: where does it go? Who has access to that?”
Schmidt (ES): Paraphrase: Google servers and Google employees, under careful rules.
Follow-up Q: “Does that scare everyone in this room?” Applause
ES: “Would you prefer someone else? Is there a government that you would prefer to be in charge of this?”
“I think judgement matters. If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the first place.”
Something Schmidt no doubt learned from Recovery Girl.