India markets closed
  • BSE SENSEX

    52,586.84
    -66.23 (-0.13%)
     
  • Nifty 50

    15,763.05
    -15.40 (-0.10%)
     
  • USD/INR

    74.3370
    +0.0910 (+0.12%)
     
  • Dow

    34,935.47
    -149.06 (-0.42%)
     
  • Nasdaq

    14,672.68
    -105.59 (-0.71%)
     
  • BTC-INR

    3,115,971.75
    +142,175.25 (+4.78%)
     
  • CMC Crypto 200

    955.03
    +5.13 (+0.54%)
     
  • Hang Seng

    25,961.03
    -354.29 (-1.35%)
     
  • Nikkei

    27,283.59
    -498.83 (-1.80%)
     
  • EUR/INR

    88.2728
    -0.0119 (-0.01%)
     
  • GBP/INR

    103.3329
    -0.3250 (-0.31%)
     
  • AED/INR

    20.1940
    +0.0240 (+0.12%)
     
  • INR/JPY

    1.4721
    +0.0008 (+0.05%)
     
  • SGD/INR

    54.9030
    +0.0090 (+0.02%)
     

Google CEO Sundar Pichai Offered Whopping $242 Million Pay Package in New Role

San Francisco: Alphabet and Google CEO Sundar Pichai will receive $240 million in stock awards over the next three years if he hits all of his performance targets, as well as a $2 million annual salary beginning in 2020, the firm said Friday in a filing.

Alphabet said in a Securities Exchange Commission filing on Friday that Pichai will also start receiving a substantial raise from January 1 to $2 million a year, according to a report by news agency IANS.

The compensation package is being given in recognition of Pichai's "expanded role as CEO of Alphabet and Google".

Pichai on Thursday received $90 million in stock awards that will vest by the end of 2022 "depending on Alphabet's shareholder returns compared to the S&P 100", the filing said.

"Pichai also received two other stock grants, of $120 million and $30 million, neither tied to performance but subject to his continued employment," the report said, citing the filing.

Signalling the end of an era, Google co-founders Larry Page and Sergey Brin decided to relinquish their current positions in the parent company Alphabet earlier this month, making India-born Pichai the CEO of both Google and Alphabet.

Page and Brin will continue their involvement as co-founders, shareholders and members of Alphabet''s Board of Directors.

Pichai joined Google in 2004 and helped lead the development of Google Toolbar and then Google Chrome, which grew to become the world's most popular internet browser.

Sundar became Google's CEO in August 2015. He joined the Board of Directors of Alphabet, Google's parent company, in July 2017.

Under his leadership as CEO, Google has been focused on developing products and services, powered by the latest advances in AI, that offer help in moments big and small.

Pichai, who grew up in Chennai and studied engineering at the Indian Institute of Technology, holds a master's degree from Stanford University and an MBA from the Wharton School.

(With IANS inputs)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting