Alphabet’s CEO Larry Page and its President Sergey Brin have decided to step aside from their offices. They decided to pass the responsibility to Google’s Chief Executive Officer Sundar Pichai, who in result, will be the CEO of Google’s parent company Alphabet.
On this crucial role transition in the company, founders of the giant search engine Google, Page and Brin expressed their views in a letter published on the Google blog, which they include the reaffirmation that the company is still withstanding its key principles, on which the company was founded.
To discuss their decision of changeover, they wrote,
“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!”
In order to simplify their management structure, both founders made this decision. They showed confidence in incumbent CEO Sundar Pichai by saying that, “There is no one that we have relied on more since Alphabet was founded, and no better person to lead Google and Alphabet into the future.”
They assert that they will continue to talk Pichai on different topics. According to a press release of Alphabet, both Page and Brin will remain active as co-founders, shareholders, and members of the board.
What Alphabet is about?
Page and Brin, who founded Google in 1998. In 2015, they restructured the company and decided to launch Alphabet, a conglomerate company. After this decision, Google’s experimental projects like driverless cars and Waymu were separated from Google internet businesses like Map and its search engine. These became part of Alphabet.
Since Page and Brin established Alphabet in 2015 and appointed Pichai as the CEO of Google, the parent company has documented 15 profitable quarters. Its stock has scaled more than 80%.
Sundar Pichai joined Google in 2004. He contributed to the development of Google Toolbar and Google Chrome. In 2015, Sundar Pichai ascended as CEO of Google. In his tweet, Pichai said that
“I’m excited about Alphabet and its long-term focus on tackling big challenges through technology,”
Featured image: CNBC