Alphabet Inc (NASDAQ: GOOG, GOOGL), the parent company settled a shareholder lawsuit alleging that it mishandled sexual misconduct allegations by its top executives.
In a blog post, Google’s Vice President of People Operation Eileen Naughton announced the settlement.
Alphabet pledges to reform Google’s culture
Under the settlement, Alphabet committed to sweeping reform and new transparency at Google. The tech giant agreed to implement five guiding principles and a list of detailed changes to its workplace policies and practices.
It included $310 million in funding to create a DEI Advisory and promote diversity, equity, and inclusion in the workplace. The Advisory Council will be composed of outside experts including for Judge Nancy Gertner, former EEOC Commissioner Fred Alvarez, and employment lawyer Grace Speights as well as internal leaders, including Google CEO Sundar Pichai.
Additionally, the settlement assured employees and shareholders that anyone who is fired or under investigation for any type of misconduct will not receive their severance package or change their stock sale plans. A specialist team will be assigned to investigate allegations against any executive and will report its findings to the audit committee of the company’s Board.
