Sundar Pichai, chief executive of Google, could receive compensation worth up to $692 million under a new pay package disclosed in a filing with the U.S. Securities and Exchange Commission on Friday. The Indian-origin executive, who also leads Google’s parent company Alphabet Inc., is eligible to earn the amount over the next three years.
Reportedly, Pichai’s three-year salary of $6 million, which comes to $2 million per year, will not change. The remainder of his compensation plan will be paid through Alphabet stock.
The compensation package will include equity in two subsidiaries of Alphabet Inc..
These are the self-driving car company Waymo and drone delivery firm Wing.
According to a filing with the U.S. Securities and Exchange Commission, Sundar Pichai could receive nearly $175 million from these holdings.
The amount includes about $130 million from Waymo and around $45 million from Wing.
The final value, however, will depend on the performance of the companies’ shares and dividend payouts from Alphabet Inc.. If fully realised, the package could place Pichai among the world’s highest-paid chief executives.
Sundar Pichai has served as CEO of Google since 2015 and CEO of its parent company Alphabet Inc. since 2019. Since joining Google in 2004, he has overseen major products including Chrome, Android, Maps, Gmail and Google Workspace, and currently sits on Alphabet’s board.