Sundar Pichai, the Chief Executive Officer (CEO) of Google, will now take over as the CEO of Alphabet Inc., the parent company of Google.
The announcement came after Larry Page, the CEO of Alphabet, stepped down from his post. Larry Page was the CEO of the Company and Sergey Brin was the President.
On the 3rd of December, Mr. Page and Mr. Brin wrote a blog post which read, “While it has been a tremendous privilege to be deeply involved in the day to day management of the company for so long, we believe it’s time to assume the role of proud parents offering advice and love, but not daily nagging!”
Larry Page and Sergey Brin are the co founders of Alphabet, the multinational conglomerate parent company of Google. Alphabet emerged in 2015 as Google was restructured and owns more than 12 companies which include Waymo, healthcare software company Verily, Malta, Makani, X Development, Calico and others.
Larry Page and Sergey Brin said, “With Alphabet now well established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure. We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet.”
Later, Mr. Page and Mr. Brin wrote a letter to employees of Google and said, “I want to be clear that this transition won’t affect the Alphabet structure or the work we do day to day. I will continue to be very focused on Google and the deep work we’re doing to push the boundaries of computing and build a more helpful Google for everyone. At the same time, I’m excited about (the) Alphabet and its long term focus on tackling big challenges through technology.”
Sundar Pichai would now lead both the companies, Google and Alphabet, as their CEO, whereas Larry Page and Sergey Brin would be part of the Board of Directors.
After the announcement, the shares of Alphabet Inc., rose by 0.64 % to 1,303 dollars.
Stay tuned for further updates.