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Alphabet Names Eli Lilly's Ashkenazi CFO

Eli Lilly CFO Anat Ashkenazi is set to become Alphabet's new chief financial officer on July 31, the company announced
June 6, 2024

Alphabet, Google's parent company, has announced that Anat Ashkenazi, currently CFO at Eli Lilly, will take over as chief financial officer starting July 31. This transition comes nearly a year after Alphabet revealed that current CFO Ruth Porat would move into a new role as president and chief investment officer.

Ashkenazi, who has spent 23 years at Eli Lilly, brings a wealth of experience to Alphabet. During her tenure, she has been pivotal in driving long-term investments that fueled innovation and growth. Alphabet's CEO Sundar Pichai expressed confidence in her capabilities, stating, "We’re very pleased to have found such a strong CFO with a strategic focus on long-term investment."

Having joined Eli Lilly in 2001, Ashkenazi became the CFO in 2021. She will continue to serve on the pharmaceutical company's executive committee until her departure. Her extensive experience includes managing the revenue growth from Eli Lilly’s successful weight loss and diabetes drugs.

Ruth Porat, who will be stepping into her new role at Alphabet, has a distinguished background herself. She spent nearly three decades at Morgan Stanley, culminating as its CFO, before joining Google in 2015. During her tenure, she helped Google become one of the world’s most valuable companies, navigating challenges from the AI race to antitrust investigations.

Alphabet's leadership changes have been in the pipeline for some time. The company announced Porat's transition in 2023 and has been searching for her successor since then. The finance unit at Google has also seen significant restructuring, with a focus on AI investments, leading to layoffs and team relocations worldwide.

Other top executives at Alphabet include chief business officer Philipp Schindler, search chief Prabhakar Raghavan, and Google Cloud CEO Thomas Kurian. The company has seen shifts among its senior ranks, including departures of YouTube CEO Susan Wojcicki, former chief business officer Robert Kyncl, and renowned AI expert Geoffrey Hinton.

Despite these changes, Alphabet's shares showed a slight uptick in pre-market trading on Tuesday, signaling investor confidence in the company's future direction. As Anat Ashkenazi steps into her new role, Alphabet is poised to continue its trajectory of innovation and growth under her financial leadership.

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