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Larry Page approved $150M stock grant to Andy Rubin despite sex abuse allegations & without board's OK, lawsuit claims
Alphabet and Google co-founder Larry Page did not ask his company's board of directors for approval before personally approving a $150 million dollar stock grant to disgraced Android executive Andy Rubin, despite the sexual harassment allegations that led to Rubin's ouster. These are the claims in an investor lawsuit, which says the company covered up the sexual misconduct of Rubin and others.
From Joel Rosenblatt and Gerrit De Vynck at Bloomberg:
Read the restAlphabet Inc. Chief Executive Officer Larry Page didnt get board approval when he awarded a $150 million stock grant to Andy Rubin, the creator of the Android mobile software who was under investigation by the company for sexual harassment at the time, according to a lawsuit.
Page later got rubber stamp approval for the equity compensation package from a board leadership committee eight days after he granted it, according to a revised investor complaint made public on Monday in California state court in San Jose. Rubin eventually left the company with a $90 million severance agreement.
The new allegations shed light on Pages power to compensate top executives and could add fuel to criticism that the companys board isnt strong enough to keep management accountable to shareholders. It could also pull Page deeper into the controversy around how Google has handled sexual harassment complaints, though its not clear if he knew about the investigation when he gave Rubin the equity. The Alphabet co-founder has generally stayed behind the scenes, while Google CEO Sundar Pichai has been left to deal with criticism of the companys culture.
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/zpyFSUjVbQA/larry-page-approved-150m-stoc.html