Google co-founders, Larry Page and Sergey Brin have announced that they are stepping down, with Sundar Pichai now becoming the CEO of Alphabet and Google.
Alphabet has announced that Eric Schmidt will be stepping down from his role as the executive chairman of the company’s board of directors. Instead Schmidt will be transitioning to a new role as a technical advisor.
Android and Chrome’s head-honcho just got a huge promotion, as the new CEO of Google.
While Google co-founder and former CEO, Larry Page said, that he and his fellow Google co-founder, Sergey Brin have started a new company called, Alphabet. This company will be the parent company for Google and all other Googley companies.
Page said what Alphabet would be in charge of:
What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related.
This would include divisions like, the Google X Labs (who brought us Google Glass, Google’s self-driving car technologies, Project Loon and many more), Google Ventures and Google Life Sciences. Each of these divisions will now be their own company with their own CEO.
As for the Google that Sundar Pichai is going to be controlling, he will be still in charge of Android along with Google search, ads, maps, YouTube and Google Play.
In addition, Alphabet Inc. will replace Google Inc. as the “publicly-traded entity and all the shares of Google will automatically convert into the same number of shares of Alphabet, with the same rights” said Page.
You can also find Alphabet’s website at abc.xyz