Backdating job steve
So I wanted them to do something and so we talked about it.In October 2003, as the computer world buzzed about what cool new gadget he would introduce next, Apple CEO Steve Jobs—then presiding over the most dramatic corporate turnaround in the history of Silicon Valley—found himself confronting a life-and-death decision.
And I was also concerned that [REDACTED] and [REDACTED] two very strong technical leaders, were also very vulnerable.
On March 18, 2008, Steve Jobs was deposed by the SEC during its investigation of Apple’s stock option backdating scandal. And when you say you failed, is it that you didn’t find anyone that you thought would be suitable to take on the role?
The deposition was never made public until Forbes published it on Friday, after obtaining it through a Freedom of Information Act request.
(Full deposition embedded below) Jobs explains his reasoning for why he asked the board for mega grants of options for both himself and his top executives, but claims ignorance of the mechanics of how that was done after the board approved the grants themselves.
(It was the falsifying of board minutes for a meeting that never occurred, not the backdating per se, that got Apple’s former general counsel Nancy Heinen into hot water with the SEC—this deposition was for a case against her).