Co-founders of the internet giant, Larry Page and Sergey Brin, announced that they will be stepping down from day-to-day management of the company.
Google Chief Executive Sundar Pichai will assume the duties of CEO of parent company Alphabet as co-founders of the internet giant, Larry Page and Sergey Brin, announced that they will be stepping down from day-to-day management of the company.
"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," the company said in a blog post.
In 2015, Google changed the company's structure and made Alphabet the parent company. While Page and Brin became the CEO and President of Alphabet, respectively, Pichai was named as the CEO of Google.
The blog further adds that there's no better person than Sundar to lead the company.
"Sundar has worked closely with us for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors. He shares our confidence in the value of the Alphabet structure, and the ability it provides us to tackle big challenges through technology. There is no one that we have relied on more since Alphabet was founded, and no better person to lead Google and Alphabet into the future," it reads.
Excited on the development, Sundar took to Twitter to thanks the co-founders.
"I'm excited about Alphabet's long term focus on tackling big challenges through technology. Thanks to Larry & Sergey, we have a timeless mission, enduring values and a culture of collaboration & exploration - a strong foundation we'll continue to build," he tweeted.
Pichai, 47, has spent over 15 years at Google. He is widely credited for leading the development of Google's Chrome browser. He later became the in charge of product development and engineering across all of Google's services for a year before gaining the CEO title.
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