Sundar Pichai appointed Alphabet CEO as Google co-founders step down

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The co-founders of Google are stepping down as executives of its parent company, Alphabet, ending a remarkable two decades during which Larry Page and Sergey Brin shaped a startup born in a Silicon Valley garage into one of the largest, most powerful - and, increasingly, most feared - companies in the world.

In 2015, when it reorganized into the Alphabet holding company, Page and Brin stepped back by naming Pichai CEO of Google, which became one of several businesses owned by Alphabet.

Larry Page, the cofounder of Google, is stepping down as CEO of its parent company Alphabet (GOOG).

Page and Brin, who founded the search giant in 1998, will continue to serve as "board members, shareholders and co-founders", they wrote in a letter. Nonetheless, they "believe it's time to assume the role of proud parents-offering advice and love, but not daily nagging!" For more, check out the official statements from Larry Page, Sergey Brin, and Sundar Pichai, plus Alphabet's official press release at the sources below. Nothing against Sundar who's proven to do a commendable job managing Google, but watching the founders of any company gradually hand the reigns over to someone else is always a big deal. They will stay on as shareholders and as members of Alphabet's Board of Directors.

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Google, the company that was known for the motto "don't be evil", has been known for its open and freewheeling culture, with employees encouraged to speak out. We've never been ones to hold on to management roles when we think there's a better way to run the company.

Page began working on personal computers when he was just 6 years old in 1979, when home computers were a rarity.

Alphabet shares rose less than 1 per cent in extended trading on Tuesday.

"Going forward, Sundar will be the CEO of both Google and Alphabet", said a letter from Brin and Page on December 3, 2019. The company is valued at almost $900 billion.

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