Google Execs Score Hefty Bonuses

Neither of its co-founders is getting a bonus

   

Google Execs Score Hefty Bonuses

Google sign on wall 630 300x200 Google Execs Score Hefty BonusesFour of Google‘s (NASDAQ:GOOG) top executives will receive a total of $15 million in performance bonuses for last year.

Executive chairman Eric Schmidt will be paid $6 million in bonuses, while the company’s chief legal officer David Drummond will receive $3 million. CFO Patrick Pichette and chief business officer Nikesh Arora will each get bonuses of $2.8 million, BBC notes.

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Current CEO and company co-founder Larry Page is not receiving a bonus. Nor is company co-founder Sergei Brin. Each received $1 million in annual salary. However, the value of their company shares have made them both billionaires.

Word of the bonuses follows reports that Google has agreed to pay $7 million to the attorneys general of 30 states to settle charges that it illicitly recorded personal data from unsecured Wi-Fi networks though roving vehicles taking street-view images for its map applications.

Last week, the company announced that it was cutting another 1,200 jobs at its Motorola unit, following 4,000 layoffs there last year.

Shares of Google slipped fractionally in Wednesday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/google-execs-score-hefty-bonuses/.

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