Google finance, business chiefs get millions in bonuses

10 March 2014
Google CFO Pichette smiles in the new Google office in Toronto
Google Senior Vice President and Chief Financial Officer Patrick Pichette smiles in the new Google office in Toronto, November 13, 2012. REUTERS/Mark Blinch

SAN FRANCISCO (Reuters) - Google Inc will pay Finance Chief Patrick Pichette a $3 million (1.8 million pounds) annual bonus, and Chief Business Officer Nikesh Arora a $3.5 million bonus, a slight increase from the previous year, following a year in which the Internet company's stock surged nearly 60 percent.

Google Chief Executive Larry Page and co-founder Sergey Brin will receive no bonus, the company said Monday in a filing with the U.S. Securities and Exchange Commission, continuing the founders' practice of not taking a bonus. Page and Brin, who are each paid a $1 a year in salary, have a large portion of their personal wealth tied directly to Google's stock.

Google's shares shot up 58 percent in 2013, breaking the $1,000 mark for the first time and outpacing the Nasdaq's 38 percent gain for the year.

Google Chief Legal Officer and head of Corporate Development David Drummond will receive a $3 million bonus, Google said. Drummond's bonus last year was $3.3 million.

Pichette and Arora each collected bonuses of $2.8 million last year.

In February, Google said it would pay Executive Chairman Eric Schmidt a $6 million discretionary cash bonus and awarded him $100 million in restricted stock units.

Shares of Google finished Monday's regular session down 0.3 percent, or $3.22, at $1,211.57.

(Reporting by Alexei Oreskovic; Editing by Jonathan Oatis)

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