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Google CEO Sundar Pichai has received a significant increase in his compensation package. Alphabet, the parent company of Google, has approved a total pay package of $692 million for the next three years, which is approximately ₹6,361 crore in Indian currency. This was reported by the Financial Times.
The package includes an annual salary of $2 million, while the value of Performance Stock Units (PSUs) has been set at $126 million. This amount may vary depending on the company’s performance and its ability to achieve the targets set by the board. In addition, Pichai will receive $84 million through restricted stock vesting, which refers to shares granted to an employee that become transferable after a certain period or based on performance. Furthermore, Alphabet has allocated shares worth $175 million in its subsidiary companies Waymo and Wing Aviation. According to the Alphabet board, these incentives reflect the strong confidence in Pichai’s leadership. With the rapid transformation of the technology industry driven by Artificial Intelligence (AI), the company has reinforced its trust in Pichai by announcing this substantial pay increase.
Sundar Pichai joined Google in 2004 and took over as CEO in 2015. Over the past decade under his leadership, the company’s market value has grown significantly, rising nearly sevenfold from $535 billion to $3.6 trillion. At one point in January this year, the company’s market capitalization even briefly touched the $4 trillion mark.
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