By Devika Krishna Kumar
(Reuters) - Proxy adviser Institutional Shareholder Services recommended that Google Inc's
Google, which is holding its annual meeting on Wednesday, awarded Schmidt $100 million in restricted stock units last year - the second time in less than three years that the company's former CEO has received an equity award of that size.
Kordestani, who was re-hired in October to become chief business officer, received a $60 million equity award and a one-time $65 million supplemental equity award.
He also received a sign-on bonus of $5 million.
ISS, in a report seen by Reuters, said the generous executive pay packages lacked a measurable connection to company performance goals.
However, Pivotal Research Group analyst Brian Wieser said investors would not likely be swayed by ISS's recommendation.
"Governance issues, unfortunately, as important as they should be, rarely resonate with the investment community. It has to be truly extreme to matter," Wieser said.
ISS recommended in April that DuPont
ISS recommended that votes be withheld for Google compensation committee members John Doerr, Paul Otellini and Ram Shriram.
"Although ISS has not identified any major issues regarding the structure of Google's executive compensation in past years, the magnitude of total pay provided to certain executives, paired with a lack of performance criteria and compelling rationale, raises significant concerns," ISS said.
Schmidt, who focuses on government outreach and deals in his role as executive chairman, handed the CEO reins to Google co-founder Larry Page in 2011.
Page and fellow co-founder Sergey Brin both have a base salary of $1 and no other compensation. Most of their wealth comes from their holdings of Google shares.
Kordestani previously worked with Google as senior vice president of global sales and business development from May 1999 to April 2009.
The chief business officer is considered a key position, overseeing all the company's revenue-generating activities and serving as a liaison to investors and Wall Street.
Google shares were little changed at $553.25 at midday.
(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Sriraj Kalluvila)
