Fred D. Anderson
Encyclopedia
See Fred Anderson
for others with similar names.
Fred D. Anderson is an American business executive known for his time with Apple Inc. and as a managing director and co-founder of Elevation Partners
.
and his M.B.A. from UCLA
. Anderson was the CFO of Automatic Data Processing
.
Anderson previously served as executive vice president and Chief Financial Officer
of Apple Inc. from March 1996 through June 2004. He took over the duties of CEO after the ouster of CEO Gil Amelio
and before the appointment of Steve Jobs
as interim CEO. His responsibilities at Apple included oversight of the companies controller, treasury, investor relations, tax, information systems, internal audit, facilities and human resources operations. 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.
He currently serves as Managing Director and Co-Founder of Elevation Partners, a director of eBay
, Yelp
, and Move, Inc., and is a former director of Apple, Palm
, E.piphany and 3COM
.
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. Under the terms of the settlement, Mr. Anderson may continue to act as an officer or director of public companies.
Fred Anderson
Fred Anderson may refer to:*Fred Anderson , former National Football League defensive lineman*Fred Anderson , Major League Baseball player...
for others with similar names.
Fred D. Anderson is an American business executive known for his time with Apple Inc. and as a managing director and co-founder of Elevation Partners
Elevation Partners
Elevation Partners is an American private equity firm that invests in intellectual property and media and entertainment companies. The firm has $1.9 billion of assets under management....
.
Biography
He completed his B.A. from Whittier CollegeWhittier College
Whittier College is a private liberal arts college in Whittier, California. As of January 2009, the college has approximately 1540 enrolled students.-Overview:...
and his M.B.A. from UCLA
University of California, Los Angeles
The University of California, Los Angeles is a public research university located in the Westwood neighborhood of Los Angeles, California, USA. It was founded in 1919 as the "Southern Branch" of the University of California and is the second oldest of the ten campuses...
. Anderson was the CFO of Automatic Data Processing
Automatic Data Processing
Automatic Data Processing, Inc. Automatic Data Processing, Inc. with about $10 billion in revenues and approximately 545,000 clients, is a provider of business outsourcing solutions. ADP offers a range of human resource, payroll, tax and benefits administration solutions...
.
Anderson previously served as executive vice president and Chief Financial Officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
of Apple Inc. from March 1996 through June 2004. He took over the duties of CEO after the ouster of CEO Gil Amelio
Gil Amelio
Gilbert Frank Amelio is an American technology executive. He grew up in Miami, Florida and received a bachelor's degree, master's degree, and Ph.D. in physics from the Georgia Institute of Technology...
and before the appointment of Steve Jobs
Steve Jobs
Steven Paul Jobs was an American businessman and inventor widely recognized as a charismatic pioneer of the personal computer revolution. He was co-founder, chairman, and chief executive officer of Apple Inc...
as interim CEO. His responsibilities at Apple included oversight of the companies controller, treasury, investor relations, tax, information systems, internal audit, facilities and human resources operations. On June 8, 2004, Anderson was appointed to Apple's board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. On October 4, 2006 Anderson resigned from Apple's board following a three month investigation into Apple's stock option practices.
He currently serves as Managing Director and Co-Founder of Elevation Partners, a director of eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
, Yelp
Yelp
Yelp, Inc. is a company that operates yelp.com, a social networking, user review, and local search web site. Yelp.com has more than 54 million monthly unique visitors as of late 2010.- History :...
, and Move, Inc., and is a former director of Apple, Palm
Palm
Palm may refer to :* Palm, the central region of the front of the hand, see Hand#Human anatomy or metacarpus.-People:* August Palm , Swedish socialist activist* Conny Palm, , Swedish electrical engineer and statistician...
, E.piphany and 3COM
3Com
3Com was a pioneering digital electronics manufacturer best known for its computer network infrastructure products. The company was co-founded in 1979 by Robert Metcalfe, Howard Charney, Bruce Borden, and Greg Shaw...
.
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. Under the terms of the settlement, Mr. Anderson may continue to act as an officer or director of public companies.