According to The Wall Street Journal, Google’s Chief Financial Officer Patrick Pichette is retiring from the company. Pichette joined Google as CFO and a senior vice president in August of 2008. Prior to joining Google, Pichette worked at Bell Canada for seven years and also was also a partner at McKinsey & Company.
Android Wear may not have been the success Google had hoped, and Google Glass may be “paused,” but it seems the company has another idea for a wearable up its sleeve–literally. If you’ve hit the gym hard and not had time for a shower, or are just sweating from rushing around the city, Google has a plan to ensure you don’t bump into any of your friends or colleagues while you’re a smelly, sweaty mess.
The NY Daily News reports that the company has been granted a patent for a portable fan attached to your body which detects exertion and sprays a fragrance to reduce body odor. Just in case that doesn’t do the trick, it connects to social networks to find out where your friends and contacts are, and provides a route to your destination that ensures you don’t run into any of them along the way.
A device is provided which includes an activity sensor, a communication portion, and a route suggesting portion. The activity sensor can detect physical activity of a user of a device. The communication portion may provide access one or more social networks via a communication network, in which the device may communicate with a social network of contacts. The route suggesting portion may provide an alternate route to travel such that the predicted odor may not offend others that are socially connected to the user and that travel the same routes as the user.
Google CFO Patrick Pichette recently talked of the need to make tough decisions to cancel projects; we suspect this one may not be too tough a call …
The Google Q4 2014 earnings call is happening right now, and Google CFO Patrick Pichette took a second to speak about projects that miss their goals and how Google asks them to “take a pause” to reset their strategy. Google Glass, and the recent decision to graduate the project out of Google [x] was used as an example of one of these situations…
Googler Patric Pichette
In a filing with the SEC today, Google has revealed that it will be giving three of its top executives bonuses of more than $3 million. Co-founder and CEO Larry Page will not be awarded a bonus, nor will co-founder Sergey Brin. The two co-founders also take a salary of $1 a year, as their wealth is tied almost entirely into Google stock.
Chief Business Officer Nikesh Arora will be receiving a $3.5 million bonus, up from $2.8 million last year. Chief Legal Officer David C. Drummond will receive a bonus of $3 million, down slightly from the $3.3 million he was paid last year. Finally, Chief Financial Officer Patrick Pichette’s bonus increased to $3 million from $2.8 million.
Last month, Google announced that it had paid Eric Schmidt $6 million in cash and given him $100 million in restricted stock.
The bonuses issued to Arora, Drummond, and Pichette will be paid out on March 14th.
During Google’s financial call today, which we have full coverage of in our liveblog, CEO Larry Page revealed that Google’s run rate for mobile is now at $8 billion. That is quite the increase from the $2.5 billion it announced last year:
This time last year I announced that our run-rate for mobile advertising hit $2.5 billion. That seemed like a pretty big number — even for Google. Now we have built up additional mobile revenue from users paying for content and apps in Google Play. Including these new sources grossed up, I can announce our new run-rate for mobile is now over $8 billion. That’s quite a business
However, CFO Patrick Pichette added that its run rate for the quarter also included ads and Google Play content revenue. Not surprisingly, the company noted the majority of that $8 billion figure comes mostly from ads. During the call, Page also confirmed there are still roughly 1.3 million Android activations daily:
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Beginning at 4:30PM EST, we’ll be getting the full break-down of Google’s earnings for the third fiscal quarter. In an odd turn of events, Google released its earnings early this afternoon due to a screwup with its SEC filing. The screwup caused Google to close down its stock for the better part of the afternoon, causing a steep drop. Google may discuss the situation on the call… stay tuned after the break:
Check up on Google’s numbers from earlier this afternoon.
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Doesn’t seem like your normal CFO Role. After 8 minutes of busses and food, it gets juicy… Full transcript.
