Google awards $59 mn in bonuses and equity to 4 top executives

Posted on Posted in Google Search Engine
BOSTON: Google’s Indian-origin Chief Business Officer Nikesh Arora is among the internet search giant’s four top executives who have been awarded a total of nearly USD 9 million in bonuses and USD 50 million in equity this year.

In a filing with US market regulator Securities and Exchange Commission, Google said its Senior Vice President and Chief Financial Officer Patrick Pichette received a USD 2.7 million bonus for performance in fiscal year 2010.

Arora also received a USD 2.7 million bonus under the executive bonus plan.

Google’s Senior Vice President for Engineering and Research Alan Eustace was awarded a USD 1.8 million bonus while Senior Vice President for Product Management Jonathan Rosenberg received a USD 1.7 million bonus.

The California-based technology giant also awarded equity to its four executives for calendar year 2011 in addition to their bonuses.

Pichette won an equity award valued at USD 15 million, while Arora, who is also Senior Vice President, got USD 20 million in equity.

Eustace was awarded USD 10 million in equity and Rosenberg received USD 5 million in equity, according to the SEC filing.

Google’s outgoing Chief Executive Officer Eric Schmidt and co-founders Larry Page and Sergey Brin did not receive any bonus or equity awards, according to the filing.

The trio had in 2004 said they will take a token salary of one dollar only every year.

The bonuses and equity were awarded by Google’s board of directors on March 7.

The maximum bonus amount payable to a single executive was USD 4.5 million, Google said.

Due to the fat paychecks and generous perks Google doles out, the company has regularly placed at the top of Fortune’s “Best Places to Work” list.

The company had ranked number 4 this year. Page will be replacing Schmidt as Google’s CEO in April.

Schmidt will stay on as executive chairman after he leaves his role on April 4.

Google had announced in January that it will give Schmidt USD 100 million in stock and stock options.

Google’s profit last year increased more than 30 per cent to USD 8.5 billion as revenue grew 24 per cent to USD 29.3 billion.

The company had earlier this year announced it plans to add more than 6000 people around the globe in one of the “biggest” workforce expansions in company history.

Srinivas Katam

Do you need help growing your business? Srinivas Katam is a Digital Marketing Strategist and Consultant with over 200 successful SEO and Social Media client engagements completed. I’ve worked with brands across the world as a digital marketing consultant to deliver revenue growth from content-focused inbound marketing campaigns. He has been partnering with companies like yours for more than 13+ years to provide more traffic with better results. He is an Innovative Marketer who specializes in digital marketing, specifically in social media, SEO and online strategy.

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