Sundar Pichai will get $242 million payments in stock and equity awards if he meets certain expectations over the next three years. Included in this is his annual salary of $2 million as Alphabet’s CEO.
One of the expectations according to a Bloomberg report is that Alphabet shares beat the S&P 100 Index. Pichai will get $90 million in stock grants if this happens.
Sundar Pichai, who was born and grew up in India, was appointed CEO after Larry Page stepped down from the position on 3rd December 2019. Larry had stepped down at the same time Sergey Brin left his position as president of Google’s parent company. The president’s office in the company no longer exists.
Sundar is an old-timer in the world of performance-based compensations. Back in 2016, the 47-year-old Indian engineer had been paid $200 million for his performance in Google. He had handled Gmail, Chrome browser and Android operating systems in the past.
Also, he has been the man behind Google’s money-making business.
Also read:
Google Founders Larry Page And Sergey Brin, Step Down From Executive Roles
Another Fired Employee Files Complaint Against Google
Google, Apple, Microsoft, Dell, Tesla Implicated In Children Miners Lawsuit
In recent years, the new CEO had taken on more responsibility as the company’s board entrusted more and more to him. He has come a long way from when he joined Google as a management executive in 2004.
The computer scientist is also the go-to guy for the resolution of internal problems in Alphabet’s subsidiary, Google LLC. He is mostly the one seen providing answers in the face of different inquisitions.
Despite the huge raise, Pichai does not get a share in Alphabet in the deal. Meanwhile, Larry Page and Sergey Brin who co-founded the empire, own 6% shares each and some level of control over the company.
But the pay rise also raised some disquieting issues. Other employees complained over Sundar Pichai getting as much as $242 million. There have been stories of some Google employees finding it hard to survive in the financial world.
Besides the problems raised by the pay increase of Alphabet’s CEO, the internet giants face several lawsuits from inside for the unfair treatment of their workers. Many of this stems from the accusation that Google fire employees who dare to question infringements on their rights. There is also the topic of s****l harassment in the workplace.
However, tech enthusiasts and other interests will be looking closely at how Sundar Pichai, CEO of Alphabet will fare at the helm of affairs.
Make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us info@plat4om.com. Also, don’t forget to subscribe to our YouTube channel HERE.
