Google Inc appointed Ruth Porat as it’s new Chief Financial Officer (CFO). She replaced Patrick Pichette who announced his retirement on 10 March 2015. She will report to Google CEO and Co-Founder Larry Page. Currently Ruth Porat is working as Chief Financial Officer at Morgan Stanley, an American multinational financial services corporation.
Google’s shares rose by 2.5% after Porat’s appointment. It is also released that Google will be paying more than $70 million a year, putting her among the highest-paid CFOs in the World.
- Ruth Porat is the Vice Chair of the Stanford University Board of Trustees and a member of the US Treasury’s Borrowing Advisory Committee.
- In 2013, Porat’s name was considered for Deputy Secretary of the US Treasury by President Barack Obama, but she withdrew her name from consideration.
- Porat was also the lead banker on numerous technology financing rounds such as Amazon, eBay, Netscape, Priceline, General Electric and the New York Stock Exchange..etc