Google execs collect bonuses
March 3, 2009
A view of the headquarters of the internet search engine company Google in Mountain View, California. Internet search king Google on Tuesday revealed the performance-related bonuses given by the board of directors in 2008 to top executives of the company.
Bonus may be a dirty word on Wall Street right now, but end-of-year cash is still being handed out in Silicon Valley.
Internet search king Google on Tuesday revealed the performance-related bonuses given by the board of directors in 2008 to top executives of the Mountain View, California company.
Topping the list in the filing with the Securities and Exchange Commission (SEC) was Jonathan Rosenberg, senior vice president, product management, who received a bonus of 1.64 million dollars.
Robert Eustace, senior vice president, engineering and research, and Omid Kordestani, senior vice president, global sales and business development, each took home a bonus of 1.38 million dollars.
New chief financial officer Patrick Pichette collected 1.24 million dollars while outgoing CFO George Reyes received 675,000 dollars.
As in years past, Google founders Sergey Brin and Larry Page and chief executive Eric Schmidt did not receive a bonus.
Google last month trumped expectations and reported a net profit of 382 million dollars for the final three months of 2008 on revenue of 5.7 billion dollars.
(c) 2009 AFP
Oct 27, 2009 |
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Giving "performance bonuses" to execs when company is goind down is stupid but it's up to shareholders to decide.
Paying for such bonuses with public money as is the case with bailed out companies is completely unacceptable. Politicians who allowed it to happen should be held responsible and all possible legal routes should be used to try to reclaim the money.