Sundar Pichai Is the New CEO of Alphabet
One of the companies that defined the modern Internet experience as we know it underwent a tectonic shift this month. Larry Page and Sergey Brin, co-founders of Google, have chosen to step away from their day-to-day administrative duties at Google’s holding company, Alphabet. They cede control to Sundar Pichai, who will now be the CEO of both Google and Alphabet. Born out of a decision to restructure Google’s diverse portfolio four years ago, Alphabet allowed Google to stay focused on its core product offerings, while also being home to several other companies such as Waymo and X Labs.
Takes Over Amidst Jubilations
Sunder Pichai has now become the new CEO of Alphabet that is supposed to be the parent concern of Google. Indians across the globe are rejoicing and congratulatingSundar Pichai since he has made them all proud. Four years back, Sundar Pichai had taken the Internet world by storm since he was appointed as the Chief Executive Officer of Google. Now he has become the much-coveted CEO of Alphabet which is supposed to be the parent organization of Google. The online world is flooded with congratulatory messages for the personality of the moment.
We understand that Sundar Pichai assuming his new role as the CEO implies $2 billion for the two departing founders, Sergey Brin and Larry Page who had given up their executive positions for making way for the new CEO Sundar Pichai at Alphabet Inc. Last Wednesday, Sergey Brin and Larry Page released a letter where they had jointly stated that they would be stepping down with immediate effect from their respective roles at Alphabet. Henceforth, Sundar would be the joint CEO of both the organizations, Alphabet and Google.
They further added that since Both Google and Alphabet are performing well as independent organizations, this could prove to be naturally the best time for simplifying the existing management structure. Both admitted that they are certainly not the type to cling on desperately to management positions when they realize that there could be a much effective way of operating the business. Moreover, Google and Alphabet would not require the services of a couple of CEOs along with a President. They declared that henceforth, Sundar Pichai would take charge of these two renowned organizations.
Retirement Gift
Sergey Brin and Larry Page just received a parting gift amounting to $2.3 billion from the investors. The two co-founders of Google were able to incorporate an additional over $1billion into their net worth individually as we witnessed that the shares of the organization have gone up by 1.9 percent in New York. Each one of the co-founders owns 6 percent of the web giant and they still control Alphabet via special voting shares. Google boasts of revenue amounting to $137 billion last year and currently boasts of having a market value amounting to around $893 billion. We understand that they are just behind only Microsoft and Apple on the ‘S&P 500 Index’.
Page and Brin’s decision to step away from the limelight comes at a time when Big Tech is under more scrutiny than ever. While their contributions to the tech world are undeniable, there has been endless speculation about what this means for Google and Alphabet, and how a shift in perspective that comes with the new CEO helps them keep pace with a rapidly changing technological and political landscape. Some believe several Alphabet projects may be cut to narrow their focus on the things they do best, others think the change is purely cosmetic and nothing to worry about. Only time will tell.