Google’s co-founders Larry Page and Sergey Brin are all set to let go of the control of Alphabet. The parent company of Google, Alphabet was created through a corporate restructuring of Google on October 2, 2015. The cofounders want to give the charge to Google CEO Sundar Pichai.
4 years back, in 2015, Google went through a huge restructuring. Sundar Pichai was appointed as the CEO of the company while the co-founders Larry Page and Sergey Brin held control of the parent company Alphabet.
The co-founders took control of the Alphabet as the CEO and President. They had a responsibility to oversee Google as well as all other affiliated companies, projects. The responsibility also included looking after new projects such as Calico and a drone delivery venture called Wing.
However, just recently, the co-founders announced in a letter that they are all set to relinquish the control of the Company to Google’s CEO Sundar Pichai.
Both, Larry and Sergey, will stay as the board members. They will also remain employees of the Company, however, both will no longer oversee as well as control the working and expansion of the firm.
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. 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.
Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets. We are deeply committed to Google and Alphabet for the long term and will remain actively involved as Board members, shareholders, and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about.
Interestingly, both co-founders Page and Brin have tried to stay away from the limelight from the very start.
They do not appear in public, do not even become a part of Google’s annual I/O developer conference.