Apple announce Wednesday the results of a three - month investigating into the company ’s stock option practices , and former Apple Chief Financial Officer ( CFO ) Fred Anderson announced that he “ believe it is in Apple ’s good interest ” for him to resign from the companionship ’s control board of directors .
“ I apologize to Apple ’s shareowner and employee for these trouble , which happened on my watch , ” say Apple CEO Steve Jobs . “ They are completely out of grapheme for Apple . We will now put to work to fix the remaining issues as apace as possible and to put the proper remedial quantity in place to ensure that this never happens again . ”
Apple first uncover stock pick irregularities in June , 2006 — one of many companies during the same time full stop that was involved in irregular line of descent option offerings . The company backdated stock option subsidization to senior executive . Shortly thereafter the companionship was sue by stockholders . The company delayed filing need financial report card with the U.S. Security & Exchange Commission and ultimately call for a sense of hearing with the NASDAQ stemma exchange Listing Qualifications Panel to address the issue . analyst doubted at the time that the probe would have much of an encroachment on Apple ’s upcoming product spill docket .
In a statement announcing Fred Anderson ’s surrender from its Board of Directors , Apple enunciate the special commission found no misconduct by any fellow member of the society ’s current management team . The commission found that the most late evidence of irregularity related to a January 2002 grant . A total of 15 pick Ulysses Simpson Grant date between 1997 and 2002 appear to have grant dates that forego the approval of those Cary Grant .
What ’s more , the committee has learned that Apple CEO Steve Jobs himself was aware that prosperous grant dates had been pick out , but say that he did n’t incur or benefit from those grants and “ was unaware ” of the account statement implications .
“ The probe arouse serious concerns regarding the actions of two former officers in connecter with the accounting , transcription and reporting of strain option Grant . The company will provide all details regarding their action to the SEC , ” said the companionship in a command .
Anderson help as CFO from 1996 until 2004 , when he yielded his post to current CFO Peter Oppenheimer . In June of 2004 , only a few days after he retired , it was announced that Anderson had accept a can on Apple ’s board of directors .
