Waymo, the self-driving car company owned by tech giant Alphabet (GOOGL), has named Steve Fieler as its new Chief Financial Officer. Fieler, a longtime Google executive, is taking on the role as Waymo works to expand its robotaxi service into more cities. This includes plans to launch in Miami and Washington, D.C., by 2026. Interestingly, Waymo’s co-CEO, Tekedra Mawakana, stated that Fieler’s background will help the company grow and potentially attract more outside funding during this next phase.
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The change comes as Elisa de Martel, who had been CFO since 2022, steps down. While Waymo didn’t share details about her departure, Mawakana thanked her for her work and wished her success in her next role. De Martel has not publicly commented on the transition. Fieler brings strong experience to the job. At Google, he was a vice president responsible for planning, investments, and investor relations.
He also handled finances for Android and Chrome. Before Google, he served as CFO at Helmerich & Payne (HP) and held various roles at several startups. However, it is worth noting that despite Waymo’s ambitious goals, Alphabet’s “Other Bets” segment, where Waymo sits, lost more money in Q3, with revenue down to $344 million and losses rising to $1.43 billion. As a result, Waymo still has a long way to go before it can achieve profitability.
Is Google Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on GOOGL stock based on 30 Buys and seven Holds assigned in the past three months. Furthermore, the average GOOGL price target of $312.29 per share implies 7.6% upside potential.
