AP: Google Board Approve Unusual Stock Split
By The Associated Press
WISH GRANTED: Google shareholders approved an unusual stock split that CEO Larry Page wanted to ensure that he and the company’s other co-founder, Sergey Brin, retain most of the voting power at the Internet search player. The split will create a new class of non-voting stock.
SURPRISE ABSENCE: Approval had been a foregone conclusion at Thursday’s annual shareholder meeting, but not everything went according to plan. Page missed the meeting because he lost his voice. Google Inc. didn’t provide further details about Page’s condition.
WHAT’S NEXT: Google doesn’t expect to split its stock until October at the earliest.