Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Menu
Search
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Cloud
    • Cloud

    Google Hires Morgan Stanley Executive Ruth Porat as New CFO

    By
    Jaikumar Vijayan
    -
    March 25, 2015
    Share
    Facebook
    Twitter
    Linkedin
      Google CFO 2

      Google has appointed Morgan Stanley’s Chief Financial Officer Ruth Porat as its new CFO.

      Porat will start at Google on May 26 and will report to Google CEO and co-founder Larry Page, the company announced Tuesday.

      She will replace Google’s current CFO Patrick Pichette, who announced his plans to step down from the role earlier this month. Pichette, Google’s CFO for nearly seven years, has noted that he would continue at Google until the company finds a replacement and he has had an opportunity to help the new appointee through an orderly transition.

      Porat joins Google after an 18-year stint at financial services company Morgan Stanley, during which she held several influential roles, including that of vice chairman of its Investment Banking group and global head of the Financial Institutions Group.

      “I’m delighted to be returning to my California roots and joining Google,” Porat said in the Google statement.

      “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.”

      Google’s statement announcing Porat’s new role describes her as a key figure in Morgan Stanley’s efforts to advise the government on its dealings with AIG, Fannie Mae and Freddie Mac during the prolonged recession that started in 2008. She was also the lead banker for financing rounds sought by several major technology companies, including Amazon, eBay, Netscape and Priceline.

      In 2013, Porat was one of several candidates being considered for the role of U.S. deputy Treasury secretary, but she withdrew her name from consideration for personal reasons, according to the New York Times.

      One of Porat’s immediate tasks will be to restore Wall Street’s confidence in Google’s ability to execute on the numerous efforts it has under way to broaden its revenue stream. Although Google remains an enormously wealthy and profitable company, it has missed Wall Street’s revenue and profit expectations for five straight quarters.

      Analysts have been particularly concerned about what they perceive as a gradual softening of Google’s core advertising businesses. A slowdown in Google’s overall rate of growth and a small but noticeable drop in search engine market share have only exacerbated those concerns.

      While analysts have worried about its core businesses slipping, Google itself has focused considerable energy on various new ventures, none of which has gained real market traction yet.

      Examples include its efforts in the gigabit Internet market, its foray into the wireless carrier space as a mobile virtual network operator (MVNO), its autonomous auto development effort and programs like its Project Loon that delivers Internet service to remote regions via high-altitude balloons.

      Jaikumar Vijayan
      Vijayan is an award-winning independent journalist and tech content creation specialist covering data security and privacy, business intelligence, big data and data analytics.

      MOST POPULAR ARTICLES

      Android

      Samsung Galaxy XCover Pro: Durability for Tough...

      Chris Preimesberger - December 5, 2020 0
      Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
      Read more
      Cloud

      Why Data Security Will Face Even Harsher...

      Chris Preimesberger - December 1, 2020 0
      Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
      Read more
      Cybersecurity

      How Veritas Is Shining a Light Into...

      eWEEK EDITORS - September 25, 2020 0
      Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
      Read more
      Big Data and Analytics

      How NVIDIA A100 Station Brings Data Center...

      Zeus Kerravala - November 18, 2020 0
      There’s little debate that graphics processor unit manufacturer NVIDIA is the de facto standard when it comes to providing silicon to power machine learning...
      Read more
      Apple

      Why iPhone 12 Pro Makes Sense for...

      Wayne Rash - November 26, 2020 0
      If you’ve been watching the Apple commercials for the past three weeks, you already know what the company thinks will happen if you buy...
      Read more

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×