Google’s Sundar Pichai Scores Huge Pay Increase With Promotion To Alphabet CEO

Alphabet CEO could earn $336 million over the next 3 years

"He also received two other stock grants, of $120 million and $30 million, neither tied to performance but subject to his continued employment", the filing further read.

Sundar Pichai is getting a hefty pay raise. The tech giant said that the increase in salary was in recognition of Sundar Pichai's "expanded role as CEO of Alphabet and Google". This includes $90 million stock grants based on Alphabet's performance.

Even with this salary increase, Pichai won't make the list of highest paid tech CEOs in the USA, which was topped in 2019 by Oracle's Mark Hurd, who died earlier this year, at $US108.3 million. On Thursday, Pichai received $90 million in stock awards that will vest, becoming his property, by the end of 2022, depending on Alphabet's shareholder returns compared to the S&P 100, the filing said. He had reportedly said that he was already paid generously. Median CEO base salary reached $1.2 million among the largest United States companies by revenue in 2018, according to Equilar.

During a staff meeting this year, one Google worker allegedly asked the management why Pichai had been paid so much even as some employees are struggling to afford to live in Silicon Valley. Tensions between workers and management have intensified lately after internal protests sparked a crackdown.

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.

He joined Google in 2004 and helped lead the development of Google Toolbar and the now widely-used browser Google Chrome.

On December 3, Page stepped down as Alphabet CEO while Brin resigned as its President.

According to the filing, Brin and Page each own about 6% of the company and control Alphabet through special voting shares and Pichai will not be receiving any such shares as part of his compensation package.

-With assistance from Anders Melin, Tom Metcalf, Mark Bergen, Brandon Kochkodin and Alicia Ritcey.



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