Alphabet will be headed by Sundar Pichai! Alphabet’s CEO Larry Page has stepped down from the CEO’s position. Till now, Larry Page and Sergey Brin were the CEO and President of Alphabet, respectively. The new change will have Pichai as the CEO, while there will be no President of Alphabet for the time being.
In August 2015, Google split up and became multiple subsidiary companies, including one called Google. Alphabet became the holding company that owned them all. For consumers, not much changed with the switch. Alphabet is represented as GOOG on the NASDAQ stock exchange, just the same as Google used to be.
‘A letter from Larry and Sergey’ announced the changes in the companies. The letter upholds the individual identity of both Alphabet and Google. “Google is not a conventional company. We do not intend to become one,” the letter says. On the other hand, Pichai announced his new position in a tweet, which also highlighted the ‘long term focus on tackling big challenges through technology’.
Google’s footprint in the world is massive today. And it has drawn criticism for various projects with AI. Moreover, Google was also said to be experimenting with a search engine in China that would be scrutinized by the Chinese government. The company was also in talks to create an AI project for the US military, which faced a massive backlash from the employees.
At the same time, investors are happy with the decision. Alphabet stocks have risen 0.64 percent just hours after the announcement. However, one should wait out and see how the new decision will impact both the companies and their users worldwide.