Google Inc. Chief Executive Officer
Larry Page, who is avoiding speaking in public, told employees
â€œthere is nothing seriously wrong with meâ€ in an e-mail,
according to a person familiar with the matter.
Page made the comment to employees June 21, according to
the person, who asked not to be identified because the matter
isnâ€™t public. Executive Chairman Eric Schmidt said the same day
at a meeting with shareholders that Page had lost his voice and
wouldnâ€™t speak at the gathering or two more public events,
including the call with analysts next month to review second-
Page â€œcanâ€™t do any public speaking for the time being,â€
but will continue to run the company, Schmidt said at the
The announcement may raise some questions among investors,
given the time that he wonâ€™t be speaking, Douglas Anmuth, an
analyst at JPMorgan Chase Co., wrote in a research note
yesterday. While Google (GOOG) (GOOG) hasnâ€™t announced the day for the next
call with analysts, the company held the conference call last
year on July 14 for its second-quarter results.
The e-mail from Page was reported earlier by the Wall
â€œWe have no specific reason to think there is anything
more to Larryâ€™s condition, but we find it odd that the company
would already rule him out of the 2Q call which is likely still
a few weeks away,â€ Anmuth wrote in the note.
Niki Fenwick, a spokeswoman for Google, declined to
The Mountain View, California-based companyâ€™s shares rose
1.1 percent yesterday to close at $571.48. The stock is down 12
percent for the year.
In addition to the shareholdersâ€™ meeting and the call with
analysts, Page wonâ€™t be able to speak at next weekâ€™s annual
developers conference in San Francisco, Schmidt said.
â€œI think that health issues for the CEO are always a
delicate balance between privacy issues for Page versus
providing information to shareholders,â€ said David Larcker,
professor of accounting at Stanford Graduate School of Business.
â€œAt some point, the shareholders need to be satisfied that the
board of directors has a good grasp on this issue and are taking
the necessary steps to make sure Google is being adequately
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Article source: http://www.businessweek.com/news/2012-06-23/page-said-to-tell-google-staff-nothing-seriously-wrong-with-me