After 21 years of continues hard work, Google co-founders Larry Page & Sergey Brin have stepped down from their positions Alphabet Inc. Due to this, Google CEO Sundar Pichai will take over Alphabet as well.
The founders announced this via an official blog post.
“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!”
Page and Brin wrote. For those who don’t know, Alphabet owns Google, YouTube, Waymo and a dozen more companies. Its net-worth is over a Trillion dollars.
Even Sundar Pichai tweeted about this.
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 on https://t.co/tSVsaj4FsR
— Sundar Pichai (@sundarpichai) December 4, 2019
Page & Brian and will continue to remain the employees of Alphabet but will lose their titles of CEO and president titles. Also, now that all the Alphabet companies are functioning smoothly, they probably think that there’s no need for separate CEOs. Besides, Pichai, who became the CEO of Google back in 2015, has been a terrific job, so there couldn’t be anyone better for the task. Even after stepping back, the co-founders still hold more than 51% of shares. As of April 2019, Page held 26.1% of Alphabet’s total voting power, Brin 25.25% and Pichai less than 1%.
Also Read: How Sundar Pichai Got His Job At Google