A view of Google headquarters in Mountain View, California, USA, on April 16, 2024.
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Eli Lilly Anat Ashkenazi will be CFO alphabet The new CFO will take effect July 31, Google’s parent company said Tuesday, nearly a year after Alphabet announced that current CFO Ruth Porat would take on a new role as president and chief investment officer.
Ashkenazi had a 23-year career with Eli Lilly, which confirmed her departure in a separate press release.
“We are very pleased to have found such a strong CFO with a proven track record of strategic focus on long-term investments to drive innovation and growth,” Alphabet CEO Sundar Pichai said in a press release.
Ashkenazi joined Eli Lilly in 2001 and has been CFO since 2021. She will continue to serve on the pharmaceutical company’s board until her departure. Previously, she served as CFO for several of the company’s global business units, helping to manage lost sales from Eli Lilly’s weight loss and diabetes medications.
Porat had a nearly three-decade career as an investment banker at Morgan Stanley, ending as CFO there before joining Google in 2015. She helped Google become one of the most valuable companies in the world. The company has recently faced threats ranging from the artificial intelligence race to antitrust investigations.
The change in leadership has been planned for a long time. Google announced Porat’s resignation in 2023 and has been looking for a successor ever since.
Google’s finance department has also struggled with other changes in recent months. Porat announced earlier this year that Google was restructuring its finance department as the company pushes to invest in AI, CNBC previously reported, with layoffs and relocations impacting teams worldwide.
Google’s “old guard” has seen changes that go beyond Porat, as CNBC previously detailed. YouTube CEO Susan Wojcicki, former chief business officer Robert Kyncl and widely recognized AI expert Geoffrey Hinton are among those who have left or announced their exit since 2023.
Disclosure: Anat Ashkenazi is a member of CNBC’s CFO Council.
—CNBC’s Jenn Elias and Annika Kim Constantino contributed to this report.
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2024-06-05 17:15:13
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