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Alphabet has awarded its newly appointed CEO Sundar Pichai with an extremely high salary of $2 million per year and $120 million in time-based stock.
The world’s fifth-largest technology company by revenue Alphabet has recently appointed a new CEO. One of the world’s most valuable companies welcomed Google CEO Sundar Pichai. As we reported earlier, Pichai replaced Larry Page and Sergey Brin, Alphabet founders who decided to step down. Soon after promotion, Pichai got a new surprise: the Alphabet board announced awarding Pichai a hefty raise in salary. Now, Sundar’s earnings will make up $2 million per year starting from January, 1. Besides, Alphabet granted its new CEO a huge bundle of various stock awards. According to the CNBC report, his equity stock will divide into time and performance-based equity. Between 2020 and 2022, they could reach nearly $250 million if all performance goals are achieved.
Alphabet New CEO: Career Ladder
Sundar Pichai is an Indian entrepreneur who began his career as a materials engineer. Smart and talented, he got a degree from the Indian Institute of Technology Kharagpur in metallurgical engineering. Moreover, Pichai received a Master of Science degree from Stanford University in material sciences and engineering. He also holds an MBA from the Wharton School of the University of Pennsylvania. After completing this MBA, he started working as a management consultant at McKinsey & Company.
In 2004, Pichai joined Google as a management executive. Further, Pichai took over several Google products including Google Chrome and Chrome OS which went on to become highly successful. Later, he was in charge of such Google products as Gmail, Google Docs, and Google Drive.
In 2008, Pichai became Vice President of Google product development. By 2012, he had made a lot of efforts that brought success to Google products. Then, Pichai’s initiative and talent made him the Senior Vice President of Chrome and apps.
In 2015, when Larry Page and Sergey Brin set up Alphabet Inc. as a holding company to own all the subsidiaries of Google, Pichai became the new Google CEO. A year later, Alphabet granted 273,328 its shares to Pichai. This increased his holdings up to $650 million per year.
Now, Pichai will serve as Alphanet CEO. Taking into consideration his rich experience, Alphabet made the right choice appointing Pichai for this position.
Larry Page and Sergey Brin believe that Sundar Pichai is the best person to lead Alphabet to further peaks.
“Sundar brings humility and a deep passion for technology to our users, partners and our employees every day. He’s worked closely with us for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors. He shares our confidence in the value of the Alphabet structure, and the ability it provides us to tackle big challenges through technology. There is no one that we have relied on more since Alphabet was founded, and no better person to lead Google and Alphabet into the future.”
Both Page and Brin will now serve more as the company’s advisors.
As for Pichai, he will be the public face of Alphabet which means he will not only enjoy its victories but also face its challenges. But with his experience, we believe it will not a problem to find solutions to any issues that happen to any business working in the tech industry.