Google co-founders Larry Page and Sergey Brin, who have largely remained out of the spotlight since the restructuring of their company four years ago, hand over control of parent company Alphabet to the current Google CEO Sundar Pichai, the duo announced today in a joint press release.
“Now that Alphabet is an established value and Google and the other bets work effectively as independent companies, it is the natural time to simplify our management structure. We have never been the ones who could hold management roles if we think there is a better way to run the business. And Alphabet and Google no longer need two CEOs and a president. Sundar will be the CEO of both Google and Alphabet in the future, ”write Page and Brin.
“He will be the manager and responsible for managing Google and managing Alphabet's investment in our portfolio with other bets. We are very committed to Google and Alphabet for the long term and remain actively involved as board members, shareholders and co-founders. In addition, we plan to continue to talk to Sundar on a regular basis, especially on topics that we are passionate about. "
The development of …