Alphabet Inc. said in a regulatory filing that CEO Sundar Pichai received $ 281 million in compensation last year, making him one of the highest-paid executives in the world.
The vast majority of the package is stock awards, some of which will be paid based on Alphabet’s stock performance relative to other companies on the S&P 100 index. That means its path can be significantly smaller or much larger. Pichai’s annual salary was $ 650,000 in 2019, according to a proxy statement filed with regulators on Friday. The company has said it will increase to $ 2 million this year.
The CEO compensation is 1,085 times the total median salary for Alphabet employees, the company also said in the filing.
Pichai took over as Larbet Page’s Alphabet CEO late last year when Page and co-founder Sergey Brin left the company. Now, the 47-year-old executive will have to navigate Alphabet through the coronavirus crisis and economic downturn. Pichai has already significantly reduced hiring and investment plans for the year.
This year, Alphabet’s board changed the companies it compares to when it decides how to determine compensation. Added Netflix Inc., Comcast Corp. and Salesforce.com Inc., while removing HP Inc. and Qualcomm Inc. Also listed: Apple Inc., Amazon.com Inc. and Facebook Inc.