“Neither Alphabet CEO Larry Page nor his co-founder, Alphabet President Sergey Brin, receive the weekly and quarterly reports received by Pichai,” the SEC document said. Without Page’s approval, Pichai can commit Google to non-standard licensing or similar arrangements, investments, mergers and acquisitions.
“Although Susan Wojcicki and Diane Greene both have “CEO” titles within Google, for YouTube and Cloud respectively, Pichai is the only Google executive who reports directly to and maintains regular contact with Page,” said the report. The Alphabet CEO receives regular financial information about every Alphabet company but doesn’t allocate resources to individual product areas within Google or within individual “Other Bets”.
“Other Bets” holds 11 different companies, which includes self-driving car unit Waymo and healthcare arm Verily. “Page proposes compensation for Google CEO Pichai and all aOther Beta¿ CEOs, but no other executives below that,” the report added.