The US has a new highest-paid executive

Half a year into his tenure, Google’s CEO, Sundar Pichai, has been named the highest-paid executive in the US

As CEO of Google, Sundar Pichai was awarded stock worth approximately $199m. Since it was formed in August last year, Google's new parent company, Alphabet, has become the world's most valuable company.

A filing registered with the US Securities and Exchange Commission indicates Google’s Sundar Pichai is now the country’s highest-paid executive. The filing shows Pichai was awarded 273,328 Class C Alphabet shares at the beginning of February, which together are worth approximately $199m.

Pichai’s stock award is his first since taking over. Google typically grants equity awards to executives on a two-yearly basis, and his shares will vest in quarterly increments through to 2019 should he remain in the hot seat. Diane Greene, who has been leading Google’s cloud business since November, was awarded $42.8m in restricted stock while the group’s CFO Ruth Porat was awarded $38.3m in equity.

Pichai was awarded 273,328 Class C Alphabet shares, which together are worth $199m

The Indian-born Pichai stepped into Larry Page’s shoes in August as part of the company’s surprise restructuring. His appointment was a shrewd move on the part of Google, with rival technology firms on the lookout for top talent.

“Sergey and I have been super excited about his progress and dedication to the company. And it is clear to us and our board that it is time for Sundar to be CEO of Google”, wrote Page in a blog post. “I feel very fortunate to have someone as talented as he is to run the slightly slimmed down Google and this frees up time for me to continue to scale our aspirations.”

The news comes less than a week after Alphabet reported profits of $4.9bn in the three months to the end of the year and surpassed Apple to become the world’s most valuable company.

Related topics: , , ,