Founders of Google, Larry Page and Sergey Brin, decided to withdraw from their positions at the world’s fifth largest technology company Alphabet Inc. The new CEO will be the current CEO of Google, Sundar Pichai.
Sundar Pichai became Google CEO approximately 4 years ago, after the creation of Alphabet. Alphabet Inc. was founded in 2015 as a company associating companies subordinate to Google, which are not directly related to its main Internet business. It gives them greater autonomy and distance from a purely Internet area.
Since Sundar Pichai has become Google CEO, its sales have grown from $75.4 billion to $136 billion. The stock price of the company has more than doubled and its market cap has increased to $900 billion. This transition is a very pleasant surprise for investors.
This means that Sundar Pichai will now be at the top of the digital empire, which has received both, a positive response and a negative criticism. It also means that there will be no more two people leading Alphabet Inc., but only him.
The founders, Page and Brin are extremely positive about the new CEO of Alphabet Inc. and believe that both companies will be in good hands:
“Sundar brings humility and a deep passion for technology to our users, partners and our employees every day. He’s worked closely with us for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors. He shares our confidence in the value of the Alphabet structure, and the ability it provides us to tackle big challenges through technology. There is no one that we have relied on more since Alphabet was founded, and no better person to lead Google and Alphabet into the future.”