Google Raises CEO’s Salary To Whopping Sum Over 3years

The Chief Executive Officer (CEO) of Information Communications Technology (ICT) giant Google and its parent Company Alphabet has got a pay rise of a whopping amount of money.

The CEO, could earn up to $692 million over the next three years under a new compensation plan published Friday by the US Securities and Exchange Commission.

With the new pay package, Sundar Pichai, has emerged as one of the highest paid CEOs in the world.

He has been chief executive of Google since 2015 and of Alphabet since 2019,

Under the plan, Pichai’s three-year salary of $6 million, or $2 million per year, would remain unchanged.

The remainder of his compensation would be paid in the form of Alphabet stock, as well as shares in two subsidiaries — the autonomous vehicle company Waymo and the drone delivery service Wing.

The SEC filing suggested Pichai could receive about $130 million from Waymo and $45 million from Wing.

READ ALSO: Nigerian Man Slams $150m Suit Against Google, GoDaddy.com

The allocation will depend on the performance of the shares and, for Alphabet, on the amount of dividends paid.

In the event of his dismissal, Pichai would forfeit all stock options that are not yet exercisable, according to the document.

“Current and previous incentives in Mr Pichai’s compensation have benefited Alphabet and its stockholders significantly,” the company said in the filing.