Fred D. Anderson

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Fred D. Anderson (born c. 1945) is an American business executive known for his time with Apple Inc. and as a managing director and co-founder of Elevation Partners.

Contents

Early life

Anderson completed his BA from Whittier College and his MBA from UCLA. According to Walter Isaacson in his book "Steve Jobs," Anderson was a former captain in the US Air Force.

Career

Anderson was the CFO of Automatic Data Processing.

Anderson was executive vice president and Chief Financial Officer of Apple Inc. from March 1996 to June 2004. [1] He took over the duties of CEO after the ouster of CEO Gil Amelio and before the appointment of Steve Jobs as interim CEO. [2] His responsibilities at Apple included oversight of the company's controller, treasury, investor relations, tax, information systems, internal audit, facilities and human resources operations. [1] On June 8, 2004, Anderson was appointed to Apple's board of directors. On October 4, 2006, Anderson resigned from Apple's board following a three-month investigation into Apple's stock option practices. [3]

On April 24, 2007, the SEC filed a complaint against Anderson alleging that he failed to take steps to ensure the proper accounting for options granted to him and several other executive officers in 2001. Simultaneous with the filing of the complaint, Anderson settled with the SEC and paid $3.5 million for disgorgement of profits and interest and $150,000 for a civil penalty. At the time of the SEC settlement, Anderson's attorney issued a public statement saying that Anderson had relied on representations from CEO Steve Jobs and unanimous approval of the Apple board in reaching the conclusion that the stock option grant in question was being properly handled. [4] Under the terms of the settlement, Anderson was allowed to continue to act as an officer or director of public companies. [5]

He currently serves as managing director and co-founder of Elevation Partners and NextEquity Partners, a director of eBay, Yelp, Move, Inc., and Sonos. He also serves on the board of trustees of Whittier College and the Stanford Athletic Board. He is a former director of Apple, Palm, E.piphany and 3COM.

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References

  1. 1 2 "Fred Anderson to Retire as Apple CFO on June 1". Apple Press Release. February 5, 2004. Archived from the original on May 15, 2011. Retrieved September 9, 2017.
  2. ↑ Kaplan, Karen (July 10, 1997). "Apple's CEO Is Ousted as Steve Jobs' Role Expands". Los Angeles Times.
  3. ↑ "Former Apple CFO resigns from board after investigation" . Retrieved 29 January 2017.
  4. ↑ "Attorney for Fred Anderson Issues Statement Regarding Settlement of Claims with the SEC - Business Wire" (Press release). Retrieved 29 January 2017.
  5. ↑ "Definitive Proxy Statement" . Retrieved 29 January 2017.
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