The pay bundle awarded to Alphabet Inc. Chief Executive Officer Sundar Pichai soared to $226 million in 2022, boosted via a triennial inventory grant, making him one of the most global’s highest-paid company leaders.
The inventory award portion of his pay amounted to $218 million, in keeping with a submitting from the Google father or mother corporate Friday. He won a complete of $6.3 million in reimbursement in 2021, when he did not obtain the grant, and his wage has remained stable at $2 million the previous 3 years.
The 50-year-old CEO has been navigating a extra aggressive business, with AI merchandise such because the chatbot ChatGPT from startup OpenAI threatening to undermine Google’s dominance in seek. A broader tech slowdown has additionally taken a toll at the corporate, with its stocks sliding 39% in 2022. Still, they have got fixed a comeback in 2023, emerging 19%.
Pichai’s inventory award comes on a three-year time table, and he won a in a similar fashion sized bundle in 2019. That yr, the chief used to be awarded $281 million.
CEO reimbursement has transform a in particular sensitive subject within the era business — particularly after a wave of layoffs at Alphabet and different main corporations. Apple Inc. CEO Tim Cook slashed his 2023 pay after drawing ire for making $100 million every of the previous two years.
Pichai’s bundle put him neatly above different executives at Alphabet in 2022. Prabhakar Raghavan, the senior vice chairman of Google’s wisdom and knowledge, and Philipp Schindler, leader trade officer, each took in about $37 million. Chief Financial Officer Ruth Porat’s reimbursement used to be $24.5 million. Their inventory grants are given out on an annual foundation.
In January, Alphabet began slicing about 12,000 jobs, or 6% of its international body of workers, following months of different measures to cut back spending and set new priorities. The median overall reimbursement for Alphabet staff used to be $279,802 in 2022, in keeping with the submitting. Pichai’s reimbursement used to be 808 instances that quantity.
As a part of his reimbursement bundle, Alphabet spent $5.94 million on private safety for Pichai, in keeping with the submitting.