Google Triples Pay of Three Top Executives in 2012; CBO's Annual Salary is 51.1 Million USD

by geekzhang on 2013-05-03 13:30:31

According to a regulatory filing submitted by Google on Wednesday, the company doubled the pay of three executives in 2012.The search giant stated in the filing that it increased stock and stock option awards for Patrick Pichette, Chief Financial Officer; Nikesh Arora, Chief Business Officer; and David Drummond, Senior Vice President of Corporate Development who also leads the company's mergers and acquisitions team.Pichette, aged 50, earned a total compensation of $38.7 million in 2012 compared to $18.3 million in the previous year. Arora’s total compensation was $51.1 million in 2012, up from $23.2 million in 2011. Drummond’s compensation was $31.3 million, an increase from $18.3 million the previous year.Arora’s compensation included an $8 million bonus but required forfeiting some stock options. The filing noted that the amount paid to Arora was determined after discussions with him and took into account his personal circumstances. The filing also mentioned that the company believed these executive compensations were reasonable and in its best interests.In prior years, Larry Page and Sergey Brin, co-founders of Google and current CEO and President of Products respectively, received salaries of $1. These founders hold large stakes in Google and control voting rights.Google’s share price rose approximately 11% in 2012 and has climbed 15% so far this year.