- Pay hike attributed to Pichai's promotion, " successful product launches"
- Under Pichai, Google remained top seller of Internet advertising
- Pichai was named CEO during Google's reorganisation in August 2015
But the long-time Google employee, who was named the company's CEO during the company's reorganisation in August 2015, received a stock award of US $198.7 million in 2016, roughly double his 2015 stock award of US $99.8 million.
The company's compensation committee attributed the lavish pay to Mr Pichai's promotion to CEO and "numerous successful product launches", the CNN reported.
In 2016, Google unveiled new smartphones, a virtual reality headset, a router, and a voice controlled smart speaker. These efforts have started to pay off for the company. Google's "other revenues", a category that includes hardware and cloud services, hit nearly USD 3.1 billion in the most recent quarter, a gain of about 50 per cent from the same quarter a year earlier. Alphabet's stock has soared this year, pushing it above a USD 600 billion market cap this week for the first time, the report said.