Windfall for Alphabet’s new CEO Pichai
Alphabet’s newly instated chief executive officer Sundar Pichai would receive a hefty $240 million in performance-based stock awards over the next three years, the highest ever promised to any executive of the search giant.
Reuters says Pichai would also take home $2 million in annual salary starting 2020, according to a regulatory filing on Friday. That compares with a $1 salary received by Larry Page in the same role last year.
Pichai took the reins earlier this month at the company after founders Page and Sergey Brin announced they will be taking a back seat.
This change was long overdue as Page had grown increasingly invisible inside and outside the company, and he was no longer doing the job required of a powerful corporate chieftain in 2019.
CNN reports that Pichai's last restricted stock award was in 2016. In May, Bloomberg reported that Pichai turned down a stock award in 2018. Pichai received just under $1.9 million in overall compensation for 2018.
It adds that by comparison, Apple CEO Tim Cook received compensation valued at $15.7 million in 2018 with $3 million in salary.
Microsoft CEO Satya Nadella got a 66% raise in the company's latest fiscal year. Nadella received $42.9 million in total compensation up from $25.8 million the year prior. With a base salary of more than $2.3 million, most of his pay came from stock awards, says CNN.