Google CEO Sundar Pichai heads the largest profit-generating tech company in the world and thus one of the highest paid corporate executives globally.
The Indian-origin CEO refused a huge restricted stock grant for an unspecified amount, in 2018 as he thinks:
‘He gets paid more than enough.’
This move may trigger debates on reopening battled controversies around unequal pay. The company is scheduled to revise the CEO’s salary later in 2019, by which point all of Pichai’s previous stock awards will have vested. This could well make Pichai unique among his peers in the US corporate industry. There has been speculation about the CEOs next move, but neither Pichai nor the company and its directors have said anything publicly about him leaving anytime soon.
The exact amount which he turned down, obviously, is still unclear. However, the sources familiar to the matter inform that it’s about $58 million, which roughly translates to about Rs 405 Crore.
Some Noted Facts
- The Silicon Valley giant gives its talent handsome compensation and Pichai was one of them
- He was promoted to take some of co-founder Larry Page’s responsibilities in 2014 when he received restricted stock worth $250 million
- In 2015, after he became CEO, he got $100 million of stock and the following year, he got another $200 million
- After 2016, Pichai has been paid a $650,000 annual salary and CEO perks like the cost of personal security
Pichai is seen as someone who shies away from conflict. Statistically, since he became in-charge he has revived revenue growth and helped parent company Alphabet Inc grow shares over 50 percent. However, the company missed Wall Street estimates last quarter, which annoyed investors.
Pichai’s leadership may have strictly been technical in the beginning but it became political after the company was involved in many controversies involving Google’s own employees and hiring practices.
Google is known for its willingness to pay lavishly to attract and keep talented employees in the executive suite and beyond. Pichai had been among the top benefactors.