Alphabet Inc. said in a regulatory filing that CEO Sundar Pichai received $ 281 million in compensation last year, making him one of the highest paid executives in the world.
The vast majority of the package is made up of stock awards, some of which are paid out based on Alphabet's return on stocks compared to other companies in the S&P 100 index. This means that its transport can be significantly smaller or much larger. Pichai's annual salary in 2019 was $ 650,000, according to a power of attorney filed on Friday with regulators. The company has announced that this will increase to $ 2 million this year.
The CEO's remuneration is 1,085 times the average total salary of Alphabet employees, the company said in the submission.
Pichai took over the management of Alphabet from Larry Page at the end of last year when Page and co-founder Sergey Brin left the company. Now 47-year-old executive must lead Alphabet through the coronavirus crisis and economic recession. Pichai has already significantly cut its hiring and investment plans for the year.
This year, Alphabet's board of directors has changed the companies it compares to when deciding how to determine compensation. Netflix Inc., Comcast Corp. and Salesforce.com Inc. were added while HP Inc. and Qualcomm Inc. were removed. Also on the list: Apple Inc., Amazon.com Inc. and Facebook Inc.
Alphabet also announced the payment of David Drummond's wife. Axios reported in September that Drummond, the company's chief legal officer at the time, married another Google employee who had once worked in his legal department. Drummond's spouse received approximately $ 197,000 in 2019. Drummond resigned earlier this year.
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