Search and technology major Google informed that its new chief financial officer, Ruth Porat will receive over $70 million in the next two years through a combination of restricted stock units and a biennial grant.

Porat was hired by the company earlier this week. According to Google, compensation package of Porat involves a grant of $25 million through restricted stock units, a special one-time $5 million sign-on bonus and a $40 million biennial grant in 2016.

Porat will become part of Google's finance division on May 26 and she will receive an annual base salary of $650,000. Porat is an American financial executive and has been Chief Financial Officer and Executive Vice President of Morgan Stanley since January 2010.

According to the bank's proxy filing, she received a base salary of $1 million at Morgan Stanley for 2013. Google has given its outgoing CFO Patrick Pichette, $62.2 million for the three years through 2013 and it is more than twice the $29.6 million Porat received at Morgan Stanley. Pichette made the announcement about his retirement earlier this month.

According to Mountain View, California-based Google, it will stop annual cash bonuses for senior vice presidents from next year. Google also said that it will move to a system that involves annual base salary and biennial equity grants.

In 2013, heavy rumors pointed towards President Barack Obama President suggesting her to be the next Deputy Secretary of the Treasury. But later reports showed that she had requested the White House on her own to eliminate her from consideration for the position because she wanted to continue working for Morgan Stanley.