Alphabet Inc’s newly appointed CEO, Sundar Pichai, is going to receive a massive amount of $240 million (approx £184.40 million) in performance-based stock awards over the next three years. It is the highest ever promised amount to any of the executives of the tech giant.
According to a regulatory filing on Friday, Pichai would also take home an annual salary of $2 million from 2020. Larry Page, who held the same role last year, received $1 per annum.
Amit Batish, marketing manager at Equilar, a company, which tracks executive compensations, said: “In terms of grants related to CEO appointments, it is behind Tim Cook’s grant of $376 million when he took over Apple.“
Google co-founders Page and Sergey Brin stepped down from their roles earlier this month, giving the charge to Sundar Pichai as a Cheif Executive Officer of the parent company, Alphabet Inc, in addition to his current role as the CEO of Google.
Trusted executive Pichai has spent 15 years at Google. He is now also the public face of the company, which is facing criticism from U.S. lawmakers and its employees as well over a number of issues ranging from privacy to monopoly.
When Sundar Pichai joined as CEO of Google in 2015, he drew an annual salary of $652,500. From then, his earnings skyrocketed, and now a massive $199 million in stock awards, which is the highest ever paid amount for any Alphabet executive back then.
Pichai is given credit for making the Google Chrome browser successful. He was also seen as a potential successor to Microsoft Corp CEO Steve Ballmer before Satya Nadella took over in February 2014.
According to the recent statement from the company, Pichai has earned nearly $1.9 million in 2018 that often included the costs for his personal use of aircraft and security. His base salary for that year was $650,000.
According to Equilar, the base salary of the Median CEO reached $1.2 million. It was the largest among the U.S companies by revenue in 2018.