If Alphabet shares outperform the S&P 100 Index, Pichai could receive an additional $90 million in stock grants.
Google's leaders have acknowledged the delicacy of adjusting a culture that has entrenched itself over two decades.
Pichai's actions as head of Google could give a clue as to how he will run the broader conglomerate
The Google co-founders added more than $1 billion each to their net worth as the firm's shares rose 1.9 per cent in New York
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The move confirms the ascendancy of Pichai, 47, as one of tech's most powerful people
Pichai was named to the additional post of CEO of Alphabet on Tuesday, making him the public face of a company long associated with co-founders Larry Page and Sergey Brin
Google CEO Indian-American Sundar Pichai (47), is set to assume the role of Alphabet CEO
The second question is whether the Alphabet structure has outlived its usefulness
Pichai took over Android business from that group's founder, Andy Rubin, managing the market leading smartphone operating system globally
In his statement, Pichai made it clear that the transition will not affect the Alphabet structure or the work they do day to day
Company says it's an effort to curb calendar, meeting spam
Alphabet's Google competes with players such as Amazon Music, Spotify and homegrown companies JioSaavn and Gaana which are rapidly gaining share of the music streaming market in the country
The board of Google parent Alphabet Inc. is scheduled to revisit the CEO's pay later this year, according to sources in the know
According to media reports, the US Department of Justice is preparing to open a case against Google for potential anti-trust violations
The DOJ and Federal Trade Commission are said to be dividing up responsibility for oversight of Google, Facebook, Apple and Amazon to probe their market dominance
Pichai agreed in September to testify over Republican concerns that the company is biased against conservatives. Google has repeatedly denied this
The hearing has been scheduled for Wednesday, the same day a state funeral will be held for George H W Bush
Google had worked with the Defense Department to develop Project Maven, which uses AI to automatically tag cars, buildings and other objects in videos recorded by drones flying over conflict zones