Alphabet CEO Sundar Pichai receives hefty pay raise, to get $242 mn in 2020

Bloomberg Sundar Pichai is getting a hefty pay raise. The new Alphabet Inc. chief executive officer will receive $240 million in stock awards over the next three years if he hits all of his performance targets, as well as a $2 million annual salary beginning in 2020, the firm said Friday in a filing.

If Alphabet shares outperform the S&P 100 Index, Pichai could receive an additional $90 million in stock grants. It’s the first time the company has bestowed performance-based stock awards. Pichai, 47, was named to the top job this month after Google co-founders Larry Page and Sergey Brin stepped down as leaders of the Mountain View, California-based firm.