Ex-Morgan Stanley (NYSE:MS) Chief Financial Officer (CFO) Ruth Porat has been appointed as the newest CFO of Google (NASDAQ:GOOG), whose move will take effect on May 26, 2015, according to a CNBC statement.
Ms. Porat joins Google after a lengthy tenure as Morgan Stanley’s CFO, a position she has held since 2009. Prior to her stint as CFO, she also served as the vice chair of investment banking at Morgan Stanley.
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The hire itself at Google (NASDAQ:GOOG) is hardly surprising, following the departure and consequent retirement of mainstay CFO Patrick Pichette from the company. The move presents an interesting twist for shareholders clamoring for a dividend and/or buyback for the company stock, despite its ascension and mounting cash reserves.
While at Morgan Stanley, Ms. Porat held a penchant for signing off on dividends, a move the Google shareholders faithfully hope will continue with her new role as CFO. At the time of writing, Google (NASDAQ:GOOG) presently trades at $568.24 per share.