Google finance, business chiefs get millions in bonuses

SAN FRANCISCO Tue Mar 11, 2014 3:58am IST

Google Senior Vice President and Chief Financial Officer Patrick Pichette takes a picture with his phone at the new Google office in Toronto, November 13, 2012. REUTERS/Mark Blinch/Files

Google Senior Vice President and Chief Financial Officer Patrick Pichette takes a picture with his phone at the new Google office in Toronto, November 13, 2012.

Credit: Reuters/Mark Blinch/Files

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Kishore Pandey, 82, lies on a bed as his daughter, Usha Tiwari, holds him and a priest stands by them (L) at Mukti Bhavan (Salvation House) in Varanasi, in the northern Indian state of Uttar Pradesh, June 19, 2014. REUTERS/Danish Siddiqui

Waiting to die at Salvation House

The city of Varanasi is Hinduism's holiest city and many Hindus believe that dying there and having their remains scattered in the Ganges allows their soul to escape a cycle of death and rebirth.  Slideshow 

SAN FRANCISCO (Reuters) - Google Inc (GOOG.O) will pay Finance Chief Patrick Pichette a $3 million annual bonus, and Chief Business Officer Nikesh Arora a $3.5 million bonus, a slight increase from the previous year, following a year in which the Internet company's stock surged nearly 60 percent.

Google Chief Executive Larry Page and co-founder Sergey Brin will receive no bonus, the company said Monday in a filing with the U.S. Securities and Exchange Commission, continuing the founders' practice of not taking a bonus. Page and Brin, who are each paid a $1 a year in salary, have a large portion of their personal wealth tied directly to Google's stock.

Google's shares shot up 58 percent in 2013, breaking the $1,000 mark for the first time and outpacing the Nasdaq's 38 percent gain for the year.

Google Chief Legal Officer and head of Corporate Development David Drummond will receive a $3 million bonus, Google said. Drummond's bonus last year was $3.3 million.

Pichette and Arora each collected bonuses of $2.8 million last year.

In February, Google said it would pay Executive Chairman Eric Schmidt a $6 million discretionary cash bonus and awarded him $100 million in restricted stock units.

Shares of Google finished Monday's regular session down 0.3 percent, or $3.22, at $1,211.57.

(Reporting by Alexei Oreskovic; Editing by Jonathan Oatis)

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