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Google to pay new CFO Ruth Porat more than USD70m

Google has said it would pay its new Chief Financial Officer, Ruth Porat, more than USD70 million through a combination of restricted stock units and a biennial grant.

The company hired Morgan Stanley CFO Porat as its finance chief earlier last week, a sign it is aiming to rein in costs as it invests in new businesses such as self-driving cars and Internet-connected eyeglasses.

Porat’s compensation package includes a grant of USD25 million through restricted stock units, a USD40 million biennial grant in 2016 and a special one-time USD5 million sign-on bonus, Google said in a regulatory filing on Thursday.