Google Execs Score Hefty Bonuses

by Christopher Freeburn | March 13, 2013 11:17 am

Google Execs Score Hefty Bonuses

Google sign on wall 630 300x200 Google Execs Score Hefty Bonuses[1]Four of Google‘s (NASDAQ:GOOG[2]) top executives will receive a total of $15 million in performance bonuses for last year[3].

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.

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[4] 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[5], following 4,000 layoffs there last year.

Shares of Google slipped fractionally in Wednesday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/12/Google-sign-on-wall-630.jpg
  2. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  3. in performance bonuses for last year: http://www.bbc.co.uk/news/business-21765738
  4. illicitly recorded personal data from unsecured Wi-Fi networks: http://investorplace.com/2013/03/google-to-pay-7m-for-collecting-passwords-e-mails/
  5. another 1,200 jobs at its Motorola unit: http://investorplace.com/2013/03/google-cuts-another-1200-jobs-at-motorola/

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