Fred D. Anderson (born 1945) is an American business executive known for his time with

Apple Inc. Apple Inc. is an American multinational technology company headquartered in Cupertino, California, United States. Apple is the largest technology company by revenue (totaling in 2021) and, as of June 2022, is the world's biggest company ...

and as a managing director and co-founder of

Elevation Partners Elevation Partners was an American private equity firm that invested in intellectual property, technology and media companies. The firm had $1.9 billion of assets under management. The firm was founded in 2004 and was headquartered in New York C ...

Early life

Anderson completed his BA from

Whittier College Whittier College (Whittier Academy (1887–1901)) is a private liberal arts college in Whittier, California. It is a Hispanic Serving Institution (HSI) and, as of fall 2022, had approximately 1,300 (undergraduate and graduate) students. It was ...

and his MBA from

UCLA The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California St ...

. According to

Walter Isaacson Walter Seff Isaacson (born May 20, 1952) is an American author, journalist, and professor. He has been the President and CEO of the Aspen Institute, a nonpartisan policy studies organization based in Washington, D.C., the chair and CEO of CNN, ...

in his book "Steve Jobs," Anderson was a former captain in the

US Air Force The United States Air Force (USAF) is the air service branch of the United States Armed Forces, and is one of the eight uniformed services of the United States. Originally created on 1 August 1907, as a part of the United States Army Signal ...

Career

Anderson was the CFO of

Automatic Data Processing ADP, Inc. (originally an acronym for Automatic Data Processing) is an American provider of human resources management software and services. History In 1949, Henry Taub founded Automatic Payrolls, Inc. as a manual payroll processing business wit ...

. Anderson was executive vice president and

Chief Financial Officer The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financ ...

from March 1996 to June 2004. He took over the duties of CEO after the ouster of CEO

Gil Amelio Gilbert Frank Amelio (born March 1, 1943) is an American technology executive. Amelio worked at Bell Labs, Fairchild Semiconductor, and the semiconductor division of Rockwell International, and was also the CEO of National Semiconductor and Ap ...

and before the appointment of Steve Jobs as interim CEO. His responsibilities at Apple included oversight of the company's 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 A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

. On October 4, 2006, Anderson resigned from Apple's board following a three-month investigation into Apple's stock option practices. 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 Disgorgement is defined by ''Black's Law Dictionary'' as "the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion." Overview Disgorgement is a remedy or penalty used in US securities law. For exampl ...

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, Anderson may continue to act as an officer or director of public companies. He currently serves as managing director and co-founder of

and NextEquity Partners, a director of

eBay eBay Inc. ( ) is an American multinational e-commerce company based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995 and became a ...

Yelp Yelp Inc. is an American company that develops the Yelp.com website and the Yelp mobile app, which publish crowd-sourced reviews about businesses. It also operates Yelp Guest Manager, a table reservation service. It is headquartered in San F ...

, 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 Palm most commonly refers to: * Palm of the hand, the central region of the front of the hand * Palm plants, of family Arecaceae **List of Arecaceae genera * Several other plants known as "palm" Palm or Palms may also refer to: Music * Palm (ba ...

, E.piphany and

3COM 3Com Corporation was an American digital electronics manufacturer best known for its computer network products. The company was co-founded in 1979 by Robert Metcalfe, Howard Charney and others. Bill Krause joined as President in 1981. Metcalfe ex ...

References

External links

Anderson's Bio at Elevation Partners
{{DEFAULTSORT:Anderson, Fred D. Apple Inc. executives Living people Whittier College alumni UCLA Anderson School of Management alumni Private equity and venture capital investors Year of birth missing (living people) American company founders Directors of Apple Inc. American corporate directors American chief financial officers Directors of eBay