Alphabet (GOOGL) has named Anat Ashkenazi its new chief financial officer. The current CFO, Ruth Porat will assume a new role as Google’s president and chief investment officer. Ashkenazi will join as CFO of both the parent company and Google effective July. Ashkenazi has been working at a major pharmaceutical company for over two decades.
On Tuesday, Google’s parent announced that Anat Ashkenazi would be the new CFO effective July 31, and Ruth Porat would take up her new role at Google. Porat’s new president and chief investment officer rule had been announced about ten months earlier.
Anat Ashkenazi worked for Eli Lilly for 23 years. The pharmaceutical giant and Ashkenazi announced her departure from Eli Lilly in a separate announcement on June 5.
Ruth Porat is Alphabet’s longest-serving CFO, joining the company in 2015. However, Anat Ashkenazi has years of experience and has been the CFO at Eli Lilly for four years. Earlier, she headed the research and other departments at the giant pharmaceutical company.
In 2024, Ruth Porat 66 wrote an internal memo announcing that Google’s financial organization would undergo restructuring as it pursued AI initiatives. The memo mentioned both layoffs and relocations.
Anat Ashkenazi will most probably be the lead in restructuring Alphabet and Google. The 51-year-old CFO might be involved in making finance operations more centralized and cost-effective. She has been credited with launching diabetes and weight loss drugs, which made Eli Lilly the most valuable global pharmaceutical company.
CWEB has reported on Alphabet and Google’s considerable investments in AI, which have led to an increase in the value of their stock. Ashkenazi might be expected to walk a tightrope as she oversees Google’s massive investments in artificial intelligence and has to retain talent as it goes through restructuring.
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