5 Facts About Google’s New CFO
Who is Ruth Porat, and what will she bring to the table as Google’s head of finance?
Following the departure of Google’s long-stay CFO Patrick Pichette, the firm has poached Morgan Stanley CFO Ruth Porat to head up its financial operations.
In a statement posted by Google, Porat said: “I’m delighted to be returning to my California roots and joining Google.
“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.”
At Morgan Stanley, Porat survived the 1987 stock market crash, and also played a role in many high-profile tech IPOs such as Amazon and eBay.
- Porat was a hotly-tipped contender for Morgan Stanley’s CEO role, once James Gorman stepped down.
- Porat has ushered in increased investor confidence, with Google’s share price upping more than 2 percent. It is expected Porat will focus on investments in new technologies, rather than trimming the company’s expenses.
- In 2013, Porat was a likely contender for the next Deputy Secretary of the Treasury, appointed by Obama himself. The media later reported that Porat withdrew her name from nomination, however.
- Porat was known as one of the most powerful women on Wall Street, but according to CNNMoney analysis, females hold just 14.2 percent of the top five leadership roles at companies in the S&P 500.
- According to Jewish news site JTA, Porat’s father volunteered to fight in the British Army during the Second World War. After growing up in Ukraine, Dan Porat managed to escape the Nazis from his later home of Vienna and escaped to Palestine. The rest of his family were killed in the Holocaust.
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