Google founders Larry Page and Sergey Brin will depart from the management of the Alphabet holding, this was reported on the company’s website. The company will be led by Google CEO Sundar Pichai.
Brin and Page published a letter of change in the company, in which they noted the need for change.
Now that Alphabet is well established, and Google and the rest of the companies are doing great independently, the time has come to simplify the management system. We do not cling to leadership positions when we understand that there are best methods of managing a company.
Alphabet and Google no longer need two CEO and president. Now Sundar Pichai will become the CEO of both companies. We are deeply committed to Google and Alphabet and in the long term will participate in the management as members of the board of directors, shareholders and co-founders.
from a letter from Sergey Brin and Larry Page
Pichai said he was delighted with Alphabet and the company’s focus on solving big problems using technology, but promised to devote enough time to Google and its projects.
CNBC noted that even though they left Alphabet’s leadership, they can easily challenge Pichai’s decisions. Together they own more than 51% of the vote – 26.1% for Page and 25.2% for Brin.
Alphabet Holding was established in 2015, it includes Google and other projects of the company. Page was the CEO of the holding, and Brin served as president of Alphabet. Then they said that such a separation would allow risk-free development of projects not related to the main business.
Page and Brin founded Google in September 1998. Today, the company’s capitalization is about 900 billion dollars, and the number of employees exceeds 100 thousand people. Status Page’s estimated 62.7 billion dollars, and Brina – 60.9 billion. Businessmen are among the ten richest people in the world according to Bloomberg.