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.
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.
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