Google Rebrands As Alphabet2015-08-11 10:33 by Daniela
The tech giant Google has announced that it's restructuring itself creating a new parent company, called Alphabet, which will own all the giant's current businesses, the largest of which will be Google.
"Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet," wrote Google co-founder and current CEO Larry Page in a post to the official Google blog.
"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."
Larry Page will become CEO of Alphabet and co-founder Sergey Brin will become president. Google's new CEO is Sundar Pichai.
The new structure will be introduced in phases in the coming months. Later this year Google shares will automatically convert to Alphabet shares and shareholders will retain the same rights.
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