of the companies that defined the modern Internet experience as we know it
underwent a tectonic shift this month. Larry Page and Sergey Brin, co-founders
of Google, have chosen to step away from their day-to-day administrative duties
at Google’s holding company, Alphabet. They cede control to Sundar Pichai, who
will now be the CEO of both Google and Alphabet. Born out of a decision to
restructure Google’s diverse portfolio four years ago, Alphabet allowed Google to
stay focused on its core product offerings, while also being home to several
other companies such as Waymo and X Labs.
Takes Over Amidst Jubilations
Pichai has now become the new CEO of Alphabet that is supposed to be the parent
concern of Google. Indians across the globe are rejoicing and congratulatingSundar
Pichai since he has made them all proud. Four years back, Sundar Pichai had
taken the Internet world by storm since he was appointed as the Chief Executive
Officer of Google. Now he has become the much-coveted CEO of Alphabet which is
supposed to be the parent organization of Google. The online world is flooded
with congratulatory messages for the personality of the moment.
understand that Sundar Pichai assuming his new role as the CEO implies $2
billion for the two departing founders, Sergey Brin and Larry Page who had
given up their executive positions for making way for the new CEO Sundar Pichai
at Alphabet Inc. Last Wednesday, Sergey Brin and Larry Page released a letter
where they had jointly stated that they would be stepping down with immediate
effect from their respective roles at Alphabet. Henceforth, Sundar would be the
joint CEO of both the organizations, Alphabet and Google.
They further added that since Both Google and Alphabet are performing well as independent organizations, this could prove to be naturally the best time for simplifying the existing management structure. Both admitted that they are certainly not the type to cling on desperately to management positions when they realize that there could be a much effective way of operating the business. Moreover, Google and Alphabet would not require the services of a couple of CEOs along with a President. They declared that henceforth, Sundar Pichai would take charge of these two renowned organizations.
Sergey Brin and Larry Page just received a parting gift amounting to $2.3 billion from the investors. The two co-founders of Google were able to incorporate an additional over $1billion into their net worth individually as we witnessed that the shares of the organization have gone up by 1.9 percent in New York. Each one of the co-founders owns 6 percent of the web giant and they still control Alphabet via special voting shares. Google boasts of revenue amounting to $137 billion last year and currently boasts of having a market value amounting to around $893 billion. We understand that they are just behind only Microsoft and Apple on the ‘S&P 500 Index’.
and Brin’s decision to step away from the limelight comes at a time when Big
Tech is under more scrutiny than ever. While their contributions to the tech
world are undeniable, there has been endless speculation about what this means
for Google and Alphabet, and how a shift in perspective that comes with the new
CEO helps them keep pace with a rapidly changing technological and political
landscape. Some believe several Alphabet projects may be cut to narrow their
focus on the things they do best, others think the change is purely cosmetic
and nothing to worry about. Only time will tell.