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Google's New CFO Ashkenazi to Receive $9.9 Million Signing Bonus, $1 Million in Annual Salary — Update

By Stephen Nakrosis

 

Anat Ashkenazi, the new chief financial officer for Google and parent company Alphabet, is slated to receive a signing bonus of $9.9 million and an annual base salary of $1 million.

In a filing with the Securities and Exchange Commission, Alphabet said Ashkenazi will also receive a $13.1 million sign-on equity grant in the form of restricted stock units, to compensate for the forfeiture of her compensation from previous employer Eli Lilly. She served as CFO at Eli Lilly since 2021.

Ashkenazi will be eligible for an annual bonus of up to 200% of annual salary, as well as new hire time-based equity and new hire performance-based equity, Alphabet said.

Ashkenazi succeeds Ruth Porat, who served as CFO before being named president and chief investment officer last year. Porat continued to serve as finance chief until a successor was named.

Porat received a $70 million pay package when she came to Google in 2015 from Morgan Stanley, where she worked as CFO.

Ashkenazi joins Alphabet at a time of cost-cutting and heavy investment into artificial intelligence.

Research analysts covering Eli Lilly praised Ashkenazi's track record of prioritizing spending on research and development while managing investors' expectations about financial results. At Alphabet, Ashkenazi will face similar challenges in allocating capital across competing projects and business lines, analysts said.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

June 07, 2024 18:49 ET (22:49 GMT)

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