INSUBCONTINENT EXCLUSIVE:
Google founders Larry Page and Sergey Brin just announced that Google CEO Sundar Pichai will be replacing Page as the CEO of parent
company Alphabet.
In addition, Brin is stepping down from his role as Alphabet president.
Alphabet first came into existence in 2015 as &a
collection of companies& that separates Google from &other bets& that aren&t part of its core businesses, such as Waymo (self-driving cars),
Verily (life sciences), Calico (biotech R-D), Sidewalk Labs (urban innovation) and Loon (rural internet access via balloon).
At the time,
Page shifted from the Google CEO role to Alphabet CEO, with Pichai stepping in to lead the search giant.However, Page and Brin wrote today
that &Alphabet and Google no longer need two CEOs and a President
Going forward, Sundar will be the CEO of both Google and Alphabet.&
Pichai has been Google public facefor a while now, but this move cements
his leadership of the larger company, while moving Page and Brin out of the limelight.
&I&m excited about Alphabet and its long term focus
on tackling big challenges through technology,& Pichai said in a statement
&I&m looking forward to continuing to work with Larry and Sergey in our new roles
Thanks to them, we have a timeless mission, enduring values, and a culture of collaboration and exploration
It a strong foundation on which we will continue to build.&
About Pichai, Page and Brin wrote:
Sundar brings humility and a deep passion for
technology to our users, partners and our employees every day
He worked closely with us for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors
He shares our confidence in the value of the Alphabet structure, and the ability it provides us to tackle big challenges through technology
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.
And rather than framing this as a departure, the pair suggested that they&ve &never been ones to hold on to management roles when we
think there a better way to run the company& and that they remain &deeply committed to Google and Alphabet for the long term, and will
remain actively involved as Board members, shareholders and co-founders.&
As of 5:04pm Eastern, Alphabet stock is up 0.68% in after-hours
trading.
Google Officially Becomes Alphabet
