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SEC Filing Show Google Management To Take $1 In Salary
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Google (GOOG) disclosed that Chairman & CEO Eric Schmidt and founders Sergey Brin and Larry Page will each be paid $1 in base salary for 2010 in an 8-K filing. Brin is Google’s President, Technology and Page is President, Products.
Several other Google executives will do better. Patrick Pichette, the CFO; David Drummond, the chief legal officer; Alan Eustace, the head of R&D; and Jonathan Rosenberg, head of product management will each get base salaries of $500,000 this year. Each had total bonuses in 2009 of about $2 million.
Of course, Google’s three senior executives do not need large salaries. According to the last proxy, Schmidt owns 9.4 million shares in the company and Page and Brin each owns roughly 29 million shares. Google closed the day at $564.
Douglas A. McIntyre
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