Former CFO Anderson helped turn Apple Computer around

“Fred Anderson garnered a reputation as a buttoned-down guy with a steady eye on the bottom line during his eight-year tenure as chief financial officer at Apple Computer Inc.,” Carolyn Said reports for The San Francisco Chronicle. “After leaving that post in June 2004, Anderson joined Apple’s board of directors. On Wednesday, he resigned as a director while Apple disclosed that it had found 15 instances of stock-options grants from 1997 to 2002 that were backdated.”

“Anderson came to Apple in 1996 as executive vice president and CFO during a low point for the computer-maker as it struggled with shrinking profit margins, dwindling market share and a plunging stock price,” Said reports. “Apple became re-energized once Steve Jobs returned to lead the company he had co-founded. Anderson was considered pivotal to that turnaround. Jobs relied heavily on his acumen and investors found his steady presence at Apple reassuring.”

“After leaving Apple in 2004, Anderson and several partners, including rock star Bono and financier Roger McNamee, co-founded Elevation Partners, a Menlo Park private-equity fund named for a U2 song,” Said reports.

Said reports, “He serves as an Elevation managing director, along with Bono, McNamee and others. The fund has raised $1.9 billion for investments in media and entertainment. In August, Elevation bought a minority stake in Forbes publishing and media company. Its other investments are in real estate Web site Move.com and game developers Pandemic Studios and BioWare.”

Full article here.

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6 Comments

  1. What’s all screwy about this options business, is that what was done at Apple was not illegal as long as it was reported.

    The question now becomes: was it reported? I’m not about to reread 20 – 24 10Qs to find out. I’ll wait for Apple to advise which quarters the option grants occurred in.

  2. “Inventing the click wheel could be the single most “pivotal” thing Anderson did for Apple.”

    Hey, wasn’t it Fred that invented the internet too? I think that was pretty important.

    Apple has some real heavy thinkers on their board. ” width=”19″ height=”19″ alt=”raspberry” style=”border:0;” />

  3. Fred helped Apple become rich. Apple helped Fred become rich. It’s all good.

    I hear Nancy Heinan (former legal counsel to Apple computer) has agreed to do a spread in Playboy.

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