Google co-founders Larry Page and Sergey Brin have handed Google parent company Alphabet over to current Google CEO, Sundar Pichai, the pair announced in a joint letter to Google’s public blog yesterday.

While the two will sill be employees of the company and keeping their seats on the board, neither will be involved in the day-to-day running of either company.

The pair first founded Google more than 20 years ago while they were attending Stanford University. It is now a company that is worth almost a trillion dollars and has a huge role to play in the daily lives of so many people.

Between Android, search, ads, and more Google and Alphabet touches many lives and Page and Brin now feel that the time is right to hand it all over to Pichai.

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. 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. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!

Ultimately, neither of the Google co-founders needs to work and by making this move they can now focus o other things. As for Google, Pichai told employees via email that the change will not mean any changes for how Google will operate.

(Source: Google)

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