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Google co-founders Larry Page and Sergey Brin just announced that Google CEO Sundar Pichai will be replacing Page as the CEO of parent company Alphabet.

Alphabet first came into existence in 2015 as “a collection of companies” that included Google but also other organizations like Waymo (self-driving cars), Verily (life sciences) and Calico (biotech R&D). 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 said, “Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet.”

Rather than framing this as a departure, the pair suggests that they’re moving away from any management roles, but they remain “deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders.”

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Source: Tech Crunch

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