Ashkenazi will succeed Ruth Porat, the long-time Alphabet CFO whose transition to the role of investment chief was unveiled in July 2023 after years of strong growth at the company. Image Credit: Reuters

Alphabet Inc. named Anat Ashkenazi as its new chief financial officer, replacing Ruth Porat who announced last year she would be stepping down from the role.

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Ashkenazi, 51, is a former CFO and executive vice president at Eli Lilly & Co., where she worked for more than 23 years, Alphabet said in a filing Wednesday morning. Her new position is effective July 31.

Porat, 66, who took over as CFO for Google in 2015, oversaw the search giant's transition into the current structure under Alphabet. She has taken on a new role as president and chief investment officer.