- Alphabet Inc. announced on Wednesday that it has named Anat Ashkenazi its new chief financial officer.
- Ashkenazi previously worked at Eli Lilly for more than 20 years.
- She will receive a signing bonus of approximately $10 million, a salary of $1 million and stock options.
Alphabet Inc. announced on Wednesday that it has appointed Anat Ashkenazi as its new chief financial officer, overseeing Alphabet Inc. and Google Inc.'s businesses.
The former Eli Lilly executive received a $9.9 million signing bonus when he signed with the tech giant, plus $13.1 million in stock grants in the form of restricted stock units and a $1 million annual salary, according to a Wall Street Journal report, and was also eligible for an annual bonus of up to 200% of his base salary.
Ashkenazi will remain as executive vice president and CFO at the pharmaceutical company until the end of July before assuming his new role at Google. Business Insider previously reported that a search for his successor is underway at Eli Lilly, where he worked for more than two decades.
According to her biography, Ashkenazi graduated from the Hebrew University of Jerusalem, where she earned a bachelor's degree in finance and economics, and then earned an MBA from Tel Aviv University.
Prior to joining Eli Lilly in 2001, he worked in financial services at Ma'alot Standard & Poor's and Bank Hapoalim in Israel.
Even more notable, the past 23 years of her career have been spent in a variety of roles at Eli Lilly, including strategy, finance and most recently as senior vice president, controller and CFO of Lilly Research Laboratories.
As senior vice president, she served as CFO for several of the company's global divisions, including manufacturing, research and development, and oversaw the corporate strategic planning team.
During Ashkenazi's tenure, Eli Lilly achieved a market capitalization of more than $800 billion, thanks in large part to the company's two new products, antidiabetic drugs Maunjaro and Zepbound, popular for weight loss and treating type 2 diabetes.
Her move to Google comes at a time when the tech giant is investing heavily in artificial intelligence. Alphabet's stock hit an all-time high of $179.54 per share on May 21.
“She was a strong candidate to fill a void at Alphabet at a critical time of growth and the company's AI revolution,” Dan Ives, managing partner at Wedbush Securities, told Business Insider. “She has a strong reputation and great CFO experience. It was the right hire at the right time.”
In her new role at Google, Ashkenazi succeeds Ruth Porat, who served as CFO before being named chief investment officer last year.
Representatives for Google and Eli Lilly did not immediately respond to Business Insider's request for comment.
