In an unexpected development at Google Inc., company's founders Larry Page and Sergei Brin announced a new parent company 'Alphabet' that will include this internet search unit as an entity.
With this new arrangement made, Larry Page will be the CEO and President of Alphabet Inc. and appointed India-born techie Sunder Pichai the new CEO of Google. Pichai is a 43 years old IIT Kharagpur techie who went to Stanford and Wharton as well.
As per the arrangement, Alphabet will most likely be the collection of the companies, with Google being the largest one. Alphabet will consist of the following entities alongside Google:
- Calico
- Fiber (internet access)
- Google (Search, Maps, YouTube, Android, Ads, Apps)
- Google Ventures (VC investing)
- Google Capital (investment fund)
- Google X (auto-driving cars, Google Glass, internet by balloon, moonshots)
- Life Sciences (the glucose sensing contact lens people)
- Nest (smoke alarms, home camera, thermostats & connected home devices)
Larry Page wrote in Google blog:
“Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet. I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President.
Page further added that Alphabet Inc. will replace Google Inc. as the publicly-traded entity and Google shares will automatically convert into the same number of shares of Alphabet, with all of the same rights. From now onwards, Google will become a wholly-owned subsidiary of Alphabet and Page will lead the holding.
Rajesh manages digital media campaigns in BrainPulse and has over 8 years of experience in directing and implementing online experiences to promote business, products and services on social networks.
August 11th, 2015 at 3:29 pm
A glad moment for all Indians! Might God will give him more quality to get Google in number one android world…
August 12th, 2015 at 11:44 am
Excited to see what Sundar Pichai does as CEO of Google! I have a tendency to be a major devotee to Google, and am hopeful that the changes will mean great things to come in the precise not so distant future.
August 12th, 2015 at 12:46 pm
Congratulation Sundar Pichai! Interesting to see what the next couple of months will look like…