Sundar Pichai is Alphabet's new CEO2019-12-04 15:37 by Daniela
Alphabet announced on Tuesday that co-founders Larry Page and Sergey Brin would relinquish full control of both Google and its parent company to CEO Sundar Pichai, formally ending their reign atop one of Silicon Valley's most powerful companies.
The co-founders aren't cutting all of their cords to the empire they built, however. Both Page and Brin will keep their board seats, and the pair still controls 51.3% of Alphabet's voting stock. If they ever saw a need to step back into executive roles within the company - or to make any strategic decision within the scope of the board's powers - they have the votes required to make it happen.
"With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it's the natural time to simplify our management structure," Page and Brin wrote in a blog post announcing the change. "We've never been ones to hold on to management roles when we think there's a better way to run the company. And Alphabet and Google no longer need two CEOs and a President."
While core products like web search, online ads, and YouTube fall under the Google umbrella, Alphabet contains companies like the X Moonshot factory working on everyday robots, the Verily health care initiative, drone delivery service Wing, and Loon, which uses balloons to bring internet to remote locations.
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