New Delhi, March 7 -- Sundar Pichai is set to become one of the highest-paid chief executives in the world after Google decided to raise his total potential compensation to $692 million ( Rs.6,361 crore), which will be paid out over the next three years.

However, a major portion of Pichai's package comes in performance stock units (PSUs), whose final value largely depends on how well the parent company Alphabet performs for shareholders.

The India-origin executive joined Google in 2004 and rose swiftly through the ranks, earning four promotions in the 11 years that followed before being named the company's CEO in 2015. Under his leadership over the past decade, Google's market capitalisation has surged nearly sevenfold from $535 billion...