Google’s new CFO gets $70M for defecting from Morgan Stanley
This 2012 photo provided by Morgan Stanley shows outgoing Chief Financial Officer Ruth Porat. Morgan Stanley on Tuesday, March 24, 2015 announced that Porat is leaving the New York investment bank for the same job at Google. AP
SAN FRANCISCO — Google’s new chief financial officer, Ruth Porat, is being paid more than $70 million for defecting from the same job at investment bank Morgan Stanley.
The lucrative pay package disclosed in a Thursday regulatory filing underscored how much Google prized Porat, who is considered to be among the most powerful women on Wall Street.
Porat, Morgan Stanley’s CFO since 2010, will start her new job May 26. Shortly after her arrival, Google will award her stock valued at $25 million and then dole out another bundle of stock worth $40 million next year.
Google Inc. also is giving Porat a $5 million signing bonus to supplement her starting salary of $650,000.
Morgan Stanley paid Porat a $1 million salary in 2013 as part of a $10.1 million pay package.
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