Sundar Pichai Tops List of Highest-Paid CEOs in the World
The U.S. Securities and Exchange Commission announced that the CEO of Google and its parent company Alphabet, Sundar Pichai, will receive a record pay package of up to $692 million over the next three years, making him one of the highest-paid CEOs globally.
According to the new plan, Pichai's fixed salary will remain $6 million, or $2 million annually, unchanged, while the majority of his compensation will be in the form of shares in Alphabet, along with shares in two subsidiaries, Waymo for self-driving cars and Wing for drone delivery services.
The agency's disclosure indicated that Pichai could receive about $130 million from Waymo shares and $45 million from Wing shares, with the distribution of these shares depending on the company's stock performance and dividend value.
In the event of his dismissal, he will lose all unexercised stock options.
Alphabet stated in its disclosure: "The company and its shareholders have significantly benefited from Pichai's current and past incentives," reflecting the impact of his leadership on the company's performance and the success of its strategies.
Since taking over as CEO of Google in 2015 and Alphabet in 2019, Pichai has successfully enhanced the company's position in artificial intelligence and future technologies, justifying this massive package that reflects his success and exceptional leadership.
