Alphabet’s other top executives get salaries, perks and participate in the company’s incentive plans. In the past three years, Pichai and Chief Financial Officer Ruth Porat have received reported pay of $302 million and $70.8 million, respectively, most of it from stock grants, according to data compiled by Bloomberg. Those awards don’t include performance metrics.
While tech companies are hardly leaders in this area, some are more committed than others. Microsoft Corp. has about 17 percent of annual bonuses linked to culture and organization leadership goals, which include promoting diversity. Intel Corp.’s annual cash bonuses are tied in part to diversity-based hiring and retention goals. And Qualcomm Inc. and International Business Machines Corp. mention inclusion considerations in their qualitative assessments of executives’ pay.
Investors care about environmental, social and governance issues, said Andy Jack, a partner at Covington & Burling LLP in Washington, where he co-chairs the law firm’s Clean Energy and Climate industry group.
“Boards and compensation committees would be well advised to review their company’s published ESG targets, understand how the targets relate to the company’s overall business strategy and reflect on whether compensation programs should incorporate any specific incentives to promote achievement of the ESG goals,” Jack said.
On Wednesday, Hennessy also told shareholders that Google’s core advertising business continues to perform well, and said autonomous-car unit Waymo is on track for commercial service by next year.
This article was provided by Bloomberg News.