Alphabet Inc. said in a regulatory filing that Chief Executive Officer Sundar Pichai was awarded $281 million in compensation last year, making him one of the world’s highest-paid executives. Pichai’s annual salary was $650000 in 2019. The company has said that it will rise to $2 million this year. The CEO’s compensation is 1085 times the median total pay of Alphabet employees. The pay package is depended on the stock awards mainly on Alphabet’s stock return which can be a pro as well as a con for Pichai. As this haul can significantly become smaller or bigger.
Sundar Pichai took over as CEO of Alphabet from Larry Page at the end of last year as Page and co-founder Sergey Brin stepped away from the company. Now, the 47-year-old executive will have to navigate Alphabet through the coronavirus crisis and economic recession. Pichai has already cut back significantly on hiring and investment plans for the year.
It was probably the first time performance compensation was provided. When Larry and Sergey stepped away from the company by handling over it to Sundar Pichai. While stepping down Page made a statement that Pichai brings humility and a deep passion for technology to the users, partners and to employees everyday. From their perspective Pichai is the best suited man to lead Google and Alphabet into the future. With the joining of Pichai there is no transition in the structure and day – to – day work of Alphabet Inc.
Sundar Pichai Google’s Alphabet has a plan to wipe out mosquitoes and it appears to be working. Stamping out illness caused by mosquitoes is one of Alphabet unit Verily’s most ambitious projects. This year, Alphabet’s board changed the companies it compares itself to when it decides how to determine compensation. It added Netflix Inc., Comcast Corp. and Salesforce.com Inc., while removing HP Inc. and Qualcomm Inc. Also on the list: Apple Inc., Amazon.com Inc. and Facebook Inc.
The jump in Sundar Pichai compensation is mainly due to stock awards tied to his promotion as CEO of Alphabet late last year, said the report on Friday. Also the board was impressed of the managerial and conventional system of working in the organisation which took place after Pichai took over the operations.