Anat Ashkenazi has been named the new Chief Financial Officer (CFO) for Alphabet Inc., the parent company of Google. Her appointment comes with a notable compensation package that includes a $9.9 million signing bonus and an annual base salary of $1 million, as revealed in a recent filing with the Securities and Exchange Commission (SEC).
Equity Grants and Bonus Potential
In addition to her signing bonus, Ashkenazi will receive a $13.1 million equity grant in restricted stock units. This grant is designed to compensate her for forfeiting her compensation from her previous role at Eli Lilly. Moreover, she will be eligible for an annual bonus of up to 200% of her base salary, alongside other performance-based equity awards.
Transition from Eli Lilly
Ashkenazi comes to Alphabet after a long and distinguished career at Eli Lilly, where she served as CFO since 2021. Her tenure at Eli Lilly spanned over two decades, during which she held various strategic and financial roles. Most recently, she was senior vice president, controller, and CFO of Lilly Research Laboratories. Under her financial leadership, Eli Lilly’s market capitalization soared past $800 billion, driven by successful products like the antidiabetic medications Mounjaro and Zepbound.
Academic and Professional Background
Ashkenazi’s academic credentials include a bachelor’s degree in finance and economics from the Hebrew University of Jerusalem and an MBA from Tel Aviv University. Before joining Eli Lilly in 2001, she gained experience in financial services with positions at Maalot Standard & Poor’s and Bank Hapoalim in Israel.
Succeeding Ruth Porat
Ashkenazi will be stepping into the role previously held by Ruth Porat, who became Alphabet’s president and chief investment officer last year but continued to serve as CFO until a successor was found. Porat, who joined Google in 2015 from Morgan Stanley where she was CFO, received a substantial $70 million pay package at the time of her hiring.
Strategic Focus at Alphabet
Ashkenazi’s arrival at Alphabet is timely as the company is currently navigating cost-cutting measures while making significant investments in artificial intelligence (AI). Alphabet’s stock reached an all-time high of $179.54 per share on May 21, reflecting strong market confidence in its future growth and AI ventures.
Industry Recognition and Future Challenges
Ashkenazi’s performance at Eli Lilly has been widely praised by industry analysts, who commend her for effectively prioritizing research and development spending while managing investor expectations. These skills will be crucial at Alphabet, where she will need to balance capital allocation across various competing projects and business lines.
Dan Ives, managing partner at Wedbush Securities, commented on her appointment, stating, “Anat Ashkenazi is a strong candidate who fills a critical role for Alphabet at a key time in its growth transformation and AI revolution. She has a stellar reputation and significant CFO experience. This is the right hire at the right time.”
Anat Ashkenazi’s appointment as CFO of Alphabet marks a significant leadership change at one of the world’s largest tech companies. With her extensive experience and generous compensation package, Ashkenazi is poised to play a pivotal role in Alphabet’s continued growth and strategic focus on artificial intelligence. As she transitions from her long-standing role at Eli Lilly, the industry will be keenly observing how she navigates the complexities and opportunities that lie ahead at Alphabet.
