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Google finance, business chiefs get millions in bonuses

Reuters | Last Updated: Tuesday, March 11, 2014 - 10:23

San Fransisco: Google Inc will pay Finance Chief Patrick Pichette a USD 3 million annual bonus, and Chief Business Officer Nikesh Arora a USD 3.5 million bonus, a slight increase from the previous year, following a year in which the Internet company`s stock surged nearly 60 percent.

Google Chief Executive Larry Page and co-founder Sergey Brin will receive no bonus, the company said Monday in a filing with the U.S. Securities and Exchange Commission, continuing the founders` practice of not taking a bonus. Page and Brin, who are each paid a USD 1 a year in salary, have a large portion of their personal wealth tied directly to Google`s stock.

Google`s shares shot up 58 percent in 2013, breaking the USD 1,000 mark for the first time and outpacing the Nasdaq`s 38 percent gain for the year.

Google Chief Legal Officer and head of Corporate Development David Drummond will receive a USD 3 million bonus, Google said. Drummond`s bonus last year was USD 3.3 million.

Pichette and Arora each collected bonuses of USD 2.8 million last year.

In February, Google said it would pay Executive Chairman Eric Schmidt a USD 6 million discretionary cash bonus and awarded him USD 100 million in restricted stock units.

Shares of Google finished Monday`s regular session down 0.3 percent, or USD 3.22, at USD 1,211.57.

First Published: Tuesday, March 11, 2014 - 09:52
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