Exec with Ties to Disney, Pixar and Google at Center of Backdating Controversy
Ann Mather, former CFO of Pixar Animation Studios and current member of Google’s board of directors, is the latest executive to be caught up in a backdating scandal. Earlier this week the SEC’s Los Angeles office said it plans to recommend the agency take civil action against Mather for allegedly approving the improper dating of stock-option grants. Mather was CFO of the Academy Award-winning company from 1999 to 2004 prior to its acquisition by Disney. In 2006 Disney stated that the SEC was looking into stock options dating but last year Disney announced that it closed its internal inquiry, concluding that any backdating at Pixar occurred prior to Disney’s acquisition of the company.
Mather’s attorney says there is “no basis for any legal action against her” and Google CEO Eric Schmidt issued a statement stressing the company’s respect for Ann and confidence in her integrity Pixar is hardly the first company to find itself at the center of a backdating scandal and, unfortunately, it probably won’t be the last. Our Wall of Shame already has several backdating examples and it looks like we could have another one soon….