Fred D. Anderson: Difference between revisions

{{short description|American business executive}}

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

==Early life==

Anderson completed his BA from [[Whittier College]] and his MBA from [[University of California, Los Angeles|UCLA]]. According to [[Walter Isaacson]] in his book "Steve Jobs," Anderson was a former captain in the [[United States Air Force|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.<ref name="ApplePR">{{cite news

| url = https://www.apple.com/pr/library/2004/feb/05anderson.html

| access-date = September 9, 2017

| archive-url = https://web.archive.org/web/20110515141548/http://www.apple.com/pr/library/2004/feb/05anderson.html

| archive-date = May 15, 2011

| url-status = dead

}}</ref> He took over the duties of CEO after the ouster of CEO [[Gil Amelio]] and before the appointment of [[Steve Jobs]] as interim CEO.<ref>{{cite news

| title = Apple's CEO Is Ousted as Steve Jobs' Role Expands

| work = Los Angeles Times

| url = http://articles.latimes.com/1997/jul/10/news/mn-11353 }}</ref> His responsibilities at Apple included oversight of the company's controller, treasury, investor relations, tax, information systems, internal audit, facilities and human resources operations.<ref name="ApplePR"/> 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.<ref>{{cite web|url=http://www.macworld.com/news/2006/10/04/stock/index.php|title=Former Apple CFO resigns from board after investigation|access-date=29 January 2017}}</ref>

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 (law)|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.<ref name="Press Release">{{cite press release|url=http://www.businesswire.com/news/home/20070424006168/en/Attorney-Fred-Anderson-Issues-Statement-Settlement-Claims|title=Attorney for Fred Anderson Issues Statement Regarding Settlement of Claims with the SEC - Business Wire|access-date=29 January 2017}}</ref> Under the terms of the settlement, Anderson was allowed to continue to act as an officer or director of public companies.<ref>{{cite web|url=https://www.sec.gov/Archives/edgar/data/1065088/000119312511072609/ddef14a.htm#toc143871_12|title=Definitive Proxy Statement|access-date=29 January 2017}}</ref>

He currently serves as managing director and co-founderof[[Elevation Partners]] and NextEquity Partners, a director of [[eBay]], [[Yelp, Inc.|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, Inc.|Palm]], [[E.piphany]] and [[3COM]].

{{Apple Inc.}}

[[Category:UCLA Anderson School of Management alumni]]

[[Category:American company founders]]

[[Category:Directors of Apple Inc.]]

[[Category:American corporate directors]]

[[Category:American chief financial officers]]

[[Category:Directors of eBay]]