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Google’s multi-million dollar welcome to new CFO Docu-Drama
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Google’s multi-million dollar welcome to new CFO
Posted by Jack Davis on June 26th, 2008 at 7:30 am Categorized as Google , Hirings
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Tagged as CFOs , Executive Pay , Google , Hirings
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Google finally named a replacement for its outgoing chief financial officer, George Reyes. He is Patrick Pichette who comes to the search juggernaut after seven years at Bell Canada.
So how do you make a new top executive feel at home at his new job where he will be surrounded by people who are probably a whole lot richer than he is?
Begin with a $500,000 signing bonus. Then throw in another $500,000 if he makes it to his six-month anniversary. Give him a $450,000 salary, which is 450,000% 4.5 million percent higher (thanks to Carl Madson for the correction) than his bosses, and set his target bonus at 150 percent of that, or $675,000.
Pay for his move, of course. Medical and dental insurance. (Oh yeah, you’ll need that down here, Patrick.) And Google will put 4 percent of his pay into the Wellesley Fund, a “balanced fund of stocks and bonds.” How sober.
But what about, you know, that coin of the realm — Google stock"
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