Eli Lilly Chief Financial Officer Anat Ashkenazi Alphabetical Google’s parent company announced Tuesday that a new CFO will take over as of July 31, nearly a year after Alphabet first announced that current CFO Ruth Porat would take on the new role of president and chief investment officer.
Ashkenazi had a 23-year career at Eli Lilly. Separate release Confirmed her departure.
“We are thrilled to have found such a talented CFO with a proven track record of strategic focus on long-term investments that drive innovation and growth,” Alphabet CEO Sundar Pichai said. release.
Ashkenazi joined Eli Lilly in 2001 and has served as CFO since 2021. He will continue to serve on the pharmaceutical company’s executive committee until his retirement. He previously served as CFO for several of the company’s global business segments and helped manage Lilly’s rapidly expanding revenue from its weight-loss and diabetes drugs.
Porat spent nearly three decades as an investment banker and chief financial officer at Morgan Stanley before joining Google in 2015. He helped Google grow into one of the world’s most valuable companies even as the company recently battled threats ranging from artificial intelligence competition to antitrust investigations.
The leadership change has been long planned: Google first announced that Porat would step down in 2023 and has been undertaking a search process ever since.
Google’s finance department has been undergoing other changes in recent months: Earlier this year, Porat announced a restructuring of the finance department as Google prioritizes investments in AI, resulting in cuts and reassignments affecting teams around the world, CNBC reported.
Other executives at the company include chief business officer Philip Schindler, Google search head Prabhakar Raghavan and Google Cloud CEO Thomas Kurian.
CNBC previously detailed that Porat is not the only “very senior” Google executive undergoing change, with YouTube CEO Susan Wojcicki, former chief operating officer Robert Kyncl and widely respected AI authority Geoffrey Hinton among others who have left or announced their departure since 2023.
Google shares were up slightly in premarket trading on Tuesday.
—CNBC’s Jen Elias and Annika Kim Constantino contributed to this report.