Google (GOOGL) CFO Ruth Porat takes on newly-created role of President & Chief Investment Officer

Google (GOOGL) shared its Q2 2023 earnings report earlier today, chronicling its financial performance over the past few months. While the report primarily focused on financial news, it also included some interesting tidbits about the company’s business at large, including an interesting change amongst its leadership group. Ruth Portat, who serves as the company’s CFO, will also take on the newly created role of Chief Investment Officer.

The news of Ruth Porat’s new position at Google can be found in the company’s Q2 2023 earnings report. It’s here that the company explains the new position, and reveals that Porat will continue to serve as CFO while the company scouts a successor.

Source: Google

Additional Information Regarding Chief Financial Officer Transition and Appointment of President and Chief Investment Officer Alphabet and Google CFO Ruth Porat will assume the newly created role of President and Chief Investment Officer of Alphabet and Google, effective September 1, 2023. Ruth will continue to serve as CFO, including leading the company’s 2024 and long-range capital planning processes, while the company searches for and selects her successor. In her new role, Ruth will continue to report to Sundar Pichai, Alphabet and Google CEO. Ruth assumed the role of CFO in May 2015 and is the company’s longest-serving CFO. In her new role, Ruth will be responsible for Alphabet’s investments in its Other Bets portfolio, working closely with Sundar, and the company’s investments in countries and communities around the world. Alphabet’s investments span numerous sectors and are engines of economic growth globally. She will also focus on engagement with policymakers and regulators regarding employment, economic opportunity, competitiveness, and infrastructure expansion.

The Q2 2023 earnings report that this news comes from also showed an earnings and revenue beat for Google. Make Shacknews your home for the biggest finance stories in the worlds of tech and gaming.