Google's 44-year-old India-born CEO Sundar Pichai[1] received nearly $200 million (roughly Rs. 1,286 crores) in compensation last year, double the amount he got in 2015.
Pichai received a salary of $650,000 (roughly Rs. 4.1 crores) last year, slightly less than the $652,500 (roughly Rs. 4.19 crores) he earned in 2015.
But the long-time Google employee, who was named CEO during the company's re-organisation[2] in August 2015, received a stock award of $198.7 million (roughly Rs. 1,278 crores) in 2016, roughly double his 2015 stock award of $99.8 million (roughly Rs. 641.5 crores).
The company's compensation committee attributed the lavish pay to Pichai's promotion to CEO and "numerous successful product launches", the CNN reported.
Larry Page[3], Google's co-founder and previous CEO, shifted his focus to growing new businesses under the Alphabet umbrella.
Under Pichai, Google has boosted sales from its core advertising and YouTube[4] business, while also investing in machine learning, hardware and cloud computing, the report said.
In 2016, Google unveiled new smartphones, a virtual reality headset, a router, and a voice controlled smart speaker.
These efforts have started to pay off for the company.
Google's "other revenues", a category that includes hardware and cloud services, hit nearly $3.1 billion (roughly Rs. 19,930 crores) in the most recent quarter, a gain of about 50 percent from the same quarter a year earlier.
Alphabet's stock has soared this year, pushing it above a $600 billion (roughly Rs. 38,57,301 crores) market cap this week for the first time, the report said....
References
- ^ Sundar Pichai (gadgets.ndtv.com)
- ^ was named CEO during the company's re-organisation (gadgets.ndtv.com)