Google’s Sundar Pichai Becomes Alphabet CEO as Larry Page and Sergey Brin Step Down

Updated on Dec 12, 2019 at 1:41 pm UTC by Bhushan Akolkar · 3 min read
Photo: Sundar Pichai / Twitter
Photo: Sundar Pichai / Twitter

Sundar Pichai is a new Alphabet CEO. Google co-founders Larry Page and Sergey Brin will now serve more as the company’s advisors.

Big announcement coming from tech giant Google as company founders Larry Page and Sergey Brin decided to step down from the position of Google’s parent company Alphabet. The announcement came on Tuesday, December 3, as both the founders decided this move as part of simplifying the company’s management structure.

Sundar Pichai, the current chief of Google has been the natural choice for this vacant position and has now been elevated as the Alphabet CEO. Pichai said that stepping in these big shoes, he will look forward to taking ahead, the great work by Larry and Sergey over the last two decades.

The decision comes just within four years of Google restructuring itself under a new parent company Alphabet. In the written note, the two Google founders wrote:

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.

On the other hand, the founders also praised Pichai’s 15 years of a long association with Google. They praised Pichai’s contribution to Google’s new technological ventures over the last decade and his ability to tackle big challenges ahead. On his Twitter, Pichai thanked the two founders for their confidence in him and his new role.

Not Completely Parting Ways with Google

While both Page and Brin have decided to step down as Alphabet CEOs, the association with the company still continues. Now, they will serve more as the company’s advisors rather than getting involved in its day-to-day operations. In their note, they wrote that they “are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders, and co-founders”.

They further added:

“While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents—offering advice and love, but not daily nagging!”

Pichai has assured that this new transition in role won’t be affecting any day-to-day work in the company. While it’s been a much-deserved jump for Pichai, he has new challenges in front of him as the Alphabet CEO. Google is currently facing major scrutiny from the U.S. government. The company has been recently targeted with an anti-trust probe by both – state and federal officials.

It’s also worth mentioning that Alphabet stock is definitely on the rise. Now it is trading at $1 294,74 (+0,46%). And if we compare this number with the results of December 2018, we will see a good jump since that time, when its price was $1062.

Business, Markets, News, Stocks
Bhushan Akolkar
Author: Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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