Alphabet Inc., the parent company of Google today, announced that Anat Ashkenazi will join the company as its new Chief Financial Officer (CFO) starting July 31, 2024.
Anat Ashkenazi, who is leaving her current position as CFO of Eli Lilly and Company, will succeed Ruth Porat, who is transitioning to a new role as President and Chief Investment Officer of Alphabet and Google.
Anat Ashkenazi’s resignation from Eli Lilly, confirmed today, concludes a 23-year tenure of extensive contributions to the pharmaceutical giant.
Eli Lilly CEO, David A. Ricks, commended Ashkenazi’s impactful career, particularly her recent three-year stint as CFO during a period of growth for the company.
“During her last three years as Lilly’s CFO, we have experienced tremendous growth and laid the groundwork to help us reach even more patients with our medicines. I want to personally thank Anat for her partnership, friendship, and leadership of our financial organization and to wish her well in her new role,” Ricks said.
Ashkenazi joined Eli Lilly in 2001 and ascended through various financial and strategic roles. Her diverse portfolio includes positions such as Senior Vice President, Controller, and CFO of Lilly Research Laboratories, as well as CFO for several of Eli Lilly’s global divisions, including Oncology, Diabetes, and Research & Development.
She holds an MBA from Tel Aviv University and a BA in economics and business administration from the Hebrew University.
In her new role at Alphabet, Ashkenazi will be based in the Bay Area and will report directly to CEO Sundar Pichai who is confident in Ashkenazi’s capabilities, noting her “track record of strategic focus on long-term investment to fuel innovation and growth.”
He emphasized the importance of her role in Alphabet’s continued push into artificial intelligence and other innovative technologies. “The AI era is giving us an incredible opportunity to innovate at scale across our core products, and to create entirely new products and experiences for our users and customers. I look forward to working with Anat as we invest responsibly to support our next wave of growth,” Pichai said.
Ruth Porat, who has been with Google since 2015 after a distinguished career at Morgan Stanley, will remain as CFO through the company’s second-quarter earnings report. She will then fully transition to her new role, overseeing Alphabet’s investments and strategic initiatives.
Porat’s tenure as CFO has involved helping the company through challenges, including the increasing competitive pressures in AI and various regulatory scrutinies.
Ashkenazi’s move to Alphabet is part of a realignment within Google’s financial and executive teams. Earlier this year, Porat announced a restructuring of the finance unit to better align with Alphabet’s AI-driven focus, a move that involved global layoffs and relocations.
This transition also comes amid a series of executive changes at Google, with several key figures, including YouTube CEO Susan Wojcicki and AI pioneer Geoffrey Hinton, having departed or announced their departure in 2023.
Alphabet’s hires and organizational changes aim to maintain the dynamic drive in technology and innovation, expanding its AI capabilities and other forward-looking projects. Ashkenazi’s experience in managing large-scale financial operations will help the company’s goal achievement.
