Google Gets Massive Restructuring as Now Owned by Newly Formed Company Alphabet with New CEO
So now, after quite a time, Google’s co-founders have announced the creation of a new public holding company named as Alphabet that will comprise all of Google’s current products. Thoughtfully, the move is intended to make Google’s operating structure more efficient and more responsible.
But wait for a second! “What is Alphabet? Basically, Alphabet is typically a collection of companies and though it is obvious that the largest of which is Google. However, this latest Google is a tad trimmed down among the companies that are appealingly far afield of our main Internet products enclosed in Alphabet as a substitute,” explained by CEO Larry Page in a blog post.
Further, the new slimmer Google embraces divisions like search, ads, maps, apps, YouTube, and Android. While newer businesses such smart home division Nest, commercial fiber division – Google Fiber, investing arms Google Ventures and Google Capital, Life Sciences and Calico, X Lab, and others will be handled entirely as separate entities under Alphabet.
Under this niche, each company under Alphabet will be run by its own CEO. Like instance, former Chrome and Android head Sundar Pichai has been appointed as Google’s new CEO. However, just on the other hand, Alphabet will have Larry Page as CEO and Sergey Brin as President.
Other than this massive restructuring, Alphabet will also reinstate Google as the publicly-traded entity. All shares of the latter will involuntarily be renewed into the similar number of shares of the newly-formed company. “Google will become a wholly-owned subsidiary of Alphabet. Our two classes of shares will persist to trade on Nasdaq as GOOGL and GOOG, as described.