Google has announced that a new company has been created, called Alphabet (www. abc.xyz) which will manage Google and all of its products.
Larry Page will be running Alphabet as CEO and Sergey Brin as president. Alphabet Inc will be replacing Google Inc and all shares of Google Inc will get converted automatically into the same number of shares of Alphabet.
With this change, Google will be the wholly-owned subsidiary of Alphabet Inc.
Alphabet will be working as a collection of companies including Google. As per Larry Page, “This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google”.
As per the company, Alphabet means “a collection of letters that represent language, one of humanity’s most important innovations, and is the core of how we index with Google search! We also like that it means alpha-bet (Alpha is investment return above benchmark), which we strive for!”.
India Born Sundar Pichai to be appointed as CEO of Google. Sundar Pichai worked at Google since 2004 and most recently get promoted to senior vice president of product.
Pichai Sundararajan was born in the year 1972 in Chennai, India. He earned BE degree from IIT, Kharagpur, holds an MS from Stanford University and MBA from the Wharton School of the University of Pennsylvania.
India’s Prime Minister, Shri Narendra Modi, has congratulated Shri Sundar Pichai on being appointed the Chief Executive Officer of Google Inc. “Congratulations Sundar Pichai. My best wishes for the new role at Google,” the Prime Minister said.
Google was founded in the year 1998 and went public in 2004.