Alphabet names new board member in wake of CEO change

Alphabet names new board member in wake of CEO change
By: WNG CNBC Posted On: December 09, 2019 View: 36

Alphabet names new board member in wake of CEO change

Scientist Frances Arnold, winner of the 2018 Nobel Prize in Chemistry, smiles at a celebratory press conference at Caltech on October 3, 2018 in Pasadena, California.

Mario Tama | Getty Images

Alphabet said on Monday that it's added acclaimed biologist Frances Arnold to its board of directors.

Arnold, a professor of chemical engineering, bioengineering and biochemistry at the California Institute of Technology, becomes the third woman on Alphabet's 11-person board. The appointment comes days after Google CEO Sundar Pichai succeeded Larry Page as Alphabet CEO.

Alphabet is aggressively pushing into the renewable energy and health sectors, and needs professional credibility in those areas as it tries to beat back concerns about its trustworthiness in collecting and using personal data. The company has been investing in life sciences through its Verily affiliate, which is part of its 'Other Bets.'

Arnold won the Nobel Prize in Chemistry in 2018 as well as notable prizes for her work in renewable energy. She is also an elected member of all three U.S. National Academies of Science, Medicine, and Engineering.

The company will offer Arnold an initial equity award of $1 million in the form of Alphabet restricted stock unit, John Hennessy, the company's chairman, said in an SEC filing.

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