In a blog entry today, Google co-founder and current CEO Larry Page announced a series of big changes coming to the company. The tone was about expanding the company and restructuring it to better manage the titan that Google has become. The major takeaways were the company Alphabet and a new Google CEO being installed.
Page announced Alphabet and that he would head over as CEO with fellow Google co-founder Sergey Brin will be President of the new company. It was also explained that Alphabet was basically an umbrella organization featuring several big and up-and-coming companies with Google being one of them.
With the rather ambitious scale of Alphabet handling multiple large and emerging companies, the flagship company would need a CEO who could focus heavily on Google’s management and development. Enter former Product Chief Sundar Pichai. In the post Page praised the newly installed CEO for his work with Google.
“He (Pichai) has really stepped up since October of last year, when he took on product and engineering responsibility for our Internet businesses,” Page said. “Sergey and I have been super excited about his progress and dedication to the company. And it is clear to us and our board that it is time for Sundar to be CEO of Google.”
Page would go on to explain the loose ends of Alphabet saying that “Google Inc.” would be replaced by “Alphabet Inc.” as the publicly traded entity while Google will be viewed as a “wholly-owned subsidiary” of the umbrella company. Also GOOGL and GOOG will remain the company’s presence on the Nasdaq.
In short Google will still be around as Google and it will get a new CEO while the co-founders will oversee everything from a larger parent company.