Larry Page and Sergey Brin, the co-founders of Google have announced in a very detailed letter that they would be stepping down from day to day running of Alphabet, Google’s parent company. In their own words
While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents—offering advice and love, but not daily nagging!
With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure. We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets. We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!
Larry Page and Sergey Brin
In lieu, Sundar Pichai will be taking over the helm of affairs of the technology giant valued at $900 billion in addition to his role as Google CEO.
Larry and Sergey both started the business from their garage in California in 1998, very typical startup phenomena for most silicon valley tech organizations.