Google’s New CFO and Her $9.9M Joining Bonus

• Anat Ashkenazi has been appointed CFO and Senior Vice President of Google and Alphabet.
• She takes the baton from Ruth Porat, who has transitioned to become the President & Chief Investment Officer.

Alphabet has a new CFO

Anat Ashkenazi, 51 has stepped into the role of CFO and Senior Vice President of Google and Alphabet from 31st July 2024 onwards.

Sundar Pichai expressed,

“We’re very pleased to have found such a strong CFO, with a track record of strategic focus on long-term investment to fuel innovation and growth,”

Ruth Porat, 66 transitioned into her new role as Alphabet’s President & Chief Investment Officer.

Navigating growth in the AI Era

Ashkenazi’s entrance into the Google and Alphabet fold comes at a pivotal time for the company.

With tech giants like Google focusing on AI-driven innovation, Ashkenazi’s expertise in financial strategy and long-term investments makes her the perfect fit.

Sundar Pichai said,

“The AI era is giving us an incredible opportunity to innovate at scale across our core products and to create entirely new products and experiences for our users and customers.

I look forward to working with Anat as we invest responsibly to support our next wave of growth.”

Also read: Google lays off finance team amid AI focus. Operations shift to Bengaluru, Mexico, Dublin

Ashkenazi’s early career

Ashkenazi has held multiple high-impact roles across finance, strategy, and operations, throughout her 23 years of tenure at Eli Lilly, an American pharmaceutical company.

• Before ascending to the role of CFO at Lilly, she served as SVP, Controller, and CFO of Lilly Research Laboratories.
• From managing global divisions like Oncology and Diabetes to overseeing corporate strategy, Ashkenazi has become known for her comprehensive vision and leadership.
• In this capacity, Ashkenazi managed the CFOs of the company’s commercial divisions as well as the areas of R&D, manufacturing, quality, and general administration.
• Additionally, she held the role of finance chief for several of the company’s global operations.
• After Ashkenazi was appointed as its CFO in 2021, Lilly saw an impressive 26% revenue increase in Q1 of 2023 alone.

Compensation package

• $1 million base salary
• Annual discretionary bonus up to 200% of base salary
• $9.9 million sign-on bonus
• $13.1 million equity grant to compensate for forfeited compensation at Lilly
• Additional stock grants worth millions set to vest over the coming years

Also read: Apple’s new CFO appointed: Kevan Parekh will succeed Luca Maestri

What’s next for Alphabet?

As Ashkenazi joins Sundar Pichai and the leadership team, all eyes are on Alphabet as it continues to evolve and redefine the tech landscape.

Anat Ashkenazi said,

“Google’s growth and evolution over the last 25 years has been an incredible story, helping billions of people and millions of businesses around the world.

Today, the opportunity for impact is greater than ever, and I feel honoured to be joining Sundar and his leadership team as they invest in the company’s future at such an exciting moment.”

What do you think?