Google has been known for some blockbuster hires, Eric Schmidt from Sun Microsystems, current Yahoo CEO Marissa Mayer, Stanford University inventor Astro Teller and now Morgan Stanley CFO Ruth Porat.
Porat is replacing Patrick Pichette as Google CFO. It is her first move since 1987, when Porat originally joined Morgan Stanley. She has moved up from a regular worker to CFO in 20 years, influencing some of the largest IPOs in US history including Amazon and eBay.
In 2013, Porat was interested in a position as Treasury secretary of the US, but decided to drop the application after several White House attacks on Wall Street.
"I’m delighted to be returning to my California roots and joining Google,” Porat said in the statement. “Growing up in Silicon Valley, during my time at Morgan Stanley and as a member of Stanford’s Board, I’ve had the opportunity to experience first hand how tech companies can help people in their daily lives. I can’t wait to roll up my sleeves and get started.”
The previous CFO Pichette worked on a variety of moves by Google to cut losses and invest in new markets, but has been criticised for his lack of control over ‘moonshot’ spending.
At a time where Google’s search advertising business is slowing, Porat needs to finely put the pieces together to keep the moonshot goals in check, while bringing in more annual profit for investors.
Google’s stock has dwindled throughout 2014 and into early 2015, with no real gains for investors. If Porat is the “most powerful woman on Wall Street” like many claim, she will need to show it with excellent results.