Google filled the position of chief financial officer this morning with a big name in the world of finance: Ruth Porat, the Morgan Stanley CFO, who has been described as recently as last year as “the most powerful woman on Wall Street.”
Porat, a Stanford University graduate and board member, will be returning to California in the new role. She will start at Google on May 26, replacing Patrick Pichette, the current Google CFO, who announced his plans to retire just two weeks ago.
Google submitted a regulatory filing about the new hire but has not yet disclosed Porat’s compensation plan.
“I’m delighted to be returning to my California roots and joining Google,” Porat says in the news release announcing her new job. “Growing up in Silicon Valley, during my time at Morgan Stanley and as a member of Stanford’s Board, I’ve had the opportunity to experience first hand how tech companies can help people in their daily lives. I can’t wait to roll up my sleeves and get started.”
Google CEO Larry Page adds: “We’re tremendously fortunate to have found such a creative, experienced and operationally strong executive. I look forward to learning from Ruth as we continue to innovate in our core–from search and ads, to Android, Chrome and YouTube–as well as invest in a thoughtful, disciplined way in our next generation of big bets. Finally, huge thanks to Patrick Pichette for his seven super successful years as CFO.”