Bad Year For Bonuses? Not For Google Execs
Bonuses on Wall Street may be getting slashed, but executives at plenty of other big companies are still getting their year-end payouts—even if, unlike in recent years, they aren’t quite enough to buy that Napa winery or mansion in the Hamptons. In an SEC filing today, Google (NSDQ: GOOG) lists 2008 bonuses for some of its senior executives.
—Robert A. Eustace, SVP Engineering & Research: $1,376,000
—Omid Kordestani, SVP Global Sales & Business Development: $1,376,000
—Patrick Pichette, Chief Financial Officer: $1,244,000
—George Reyes, Former Chief Financial Officer: $675,000
—Jonathan Rosenberg, SVP Product Management: $1,638,000
A couple thoughts here: It’s interesting that CFO Pichette, who been at the company barely seven months, received a bonus largely in-line with the other senior executives, some of whom have been at the company for years. This may be because he has fewer options than they do (by virtue of his shorter tenure), and is thus being made whole with the bonus. Separately, it’s curious that the head of products for Google received the highest bonus of all—even though the company is famous for having only one product that makes any real money; in fact, Google has killed off a number of money-losing products over the past year.
The Google bonuses were down slightly from last year, and, as in previous years, founders Sergey Brin and Larry Page and CEO Eric Schmidt took home no cash bonus.
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