Google founders Larry Page step down from Alphabet

Alonzo Simpson
December 4, 2019

Today, Alphabet announced that Google co-founders Larry Page and Sergey Brin will step down from their leadership roles. The duo created Alphabet in 2015 to separate Google's core business from other initiatives, such as the self-driving auto unit Waymo. There will be no President role for Alphabet (for the moment, at least), and Pichai will be CEO of both Google and Alphabet. "And Alphabet and Google no longer need two CEOs and a President", their letter said.

Google CEO Sundar Pichai will become Alphabet's CEO too, a statement said. Both Page and Brin will continue to be involved as board members, shareholders and co-founders, so they will still be consulting Pichai as his new role as the CEO of Google and Alphabet.

"It's impossible to overstate Larry and Sergey's contributions over the past 21 years", said chairman of Alphabet's Board of Directors, John Hennessy. Pichai, on the other hand, has taken on a higher profile, representing the company in quarterly earnings calls and congressional hearings.

Page, once the face of the company, has largely receded from public view.At the same time, Google is confronting growing tensions with its own employees. According to CBS, Page and Brin have been conspicuously absent from Google events over the past year, including the Alphabet shareholders meeting in the summer.

Now he is the sole executive in charge of a company that has giant businesses in search, advertising, maps, smartphone software and online video, as well as a variety of fledgling bets in far-off areas like drone deliveries and internet-beaming balloons.

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The pair still hold more than 50 per cent voting shares of Alphabet.

Alphabet stock was up 0.5% in after hours trading.

As for Mr Page and Mr Brin, Mr Bajarin added, "keep in mind, they are not losing their title as billionaires, but they are changing their roles".

Page dropped out of graduate school at Stanford to start Google and doesn't have a business degree.

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

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