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Google reveals exec salary deal

David T [PersonRank 7]

Wednesday, April 4, 2007
15 years ago2,924 views

Taken from the BBC:

Google reveals exec salary deal:

Search engine giant Google only paid its three executives salaries of $1 (50p) in 2006, accounts show.

But chief executive Eric Schmidt and co-founders Larry Page and Sergey Brin saw their combined Google shares worth $31.5bn by the end of the year.

Mr Schmidt's "other compensation", was $555,742 while Mr Page's hit $36,795. For both men, much of this went towards personal security.

One perk was Mr Schmidt's corporate jet, available for certain executives.

Strong shares

Of Mr Schmidt's "other compensation", over 95% – $532,755 – was for personal security.

All three executives saw bonuses of $1,723, but Mr Brin, president of technology, did not receive "other compensation".

However, his shares in Google were worth $13.2bn, while Mr Page had shares totalling £13.4bn and Mr Schmidt's were worth $4.9bn by year end.

Since listing in August 2004 shares in the internet giant have risen from $85 to $460.48 last year.

While the three men's salaries were only a $1 apiece, this was not the case for other employees in key positions.

Four vice presidents – George Reyes, Shona Brown, David Drummond and Jonathan Rosenberg – all saw salaries of $250,000 last year.

Full article here:

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