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Google co founders have resigned from Google and it's parent company Alphabet. Now the CEO of Google Sundar Pichai will also lead Alphabet. The co founders Sergey Brin and Larry Page published a letter to formally announce that Google CEO Sundar Pichai will now be taking over Alphabet too as the CEO.
Sundar Pichai became the CEO of Google in 2015, after major restructuring of the corporate system by the Co Founders. They created Alphabet Inc as the holding company and took Google under its umbrella. In a letter to the employees the Google co founders wrote:
“We’ve never been ones to hold on to management roles when we think there’s a better way to run the company.”Alphabet was founded in 2015 to act as a parent company of Google and various other projects like autonomous cars, social sciences and smart cities. They added in the statement that, Sundar Pichai “brings humility and a deep passion for technology to our users, partners and our employees every day” and that there is “no better person to lead Google and Alphabet into the future.”
Larry Page and Sergey Brin are not completely out of the business, as they will hold the position of Directors but will not participate in day to day activities of Alphabet and Google. The move was appreciated by the Alphabet Inc. shareholders and its share price rose by 0.75% following the announcement.
