The Google co-founders Larry Page and Sergey Brin are stepping down from their management roles, as CEO and President, respectively, of Alphabet. They will remain on Alphabet's board, while Google CEO Sundar Pichai becomes CEO of Alphabet as well.
In a letter accompanying the announcement, the co-founders said it was time to "simplify" the company's management, four years after the parent company Alphabet was created and several of the companies 'other bets' were operating well independently. "We’ve never been ones to hold on to management roles when we think there’s a better way to run the company," the founders said. "And Alphabet and Google no longer need two CEOs and a President."
Effective immediately, Pichai will be the CEO of both Google and Alphabet. Page and Brin said they will remain actively involved as board members, shareholders and co-founders.
