In a post on the official blog of Google, Larry Page announced that now the new CEO will be Sundar Pichai who served previously as senior vice president.
This transition is because Page and Sergey Brin will be working with a new company called Alphabet as CEO and president of respective way.
Alphabet is primarily a collection of companies. Most of which, of course, is Google. This new company of Google will be a little ‘thinned’, with companies that are quite far from our main Internet products contained in Alphabet.
Alphabet is on firms that grow through strong leadership and independence.Overall, our model is to have a strong CEO to lead each company, with Sergey and helping when needed. We’ll rigorous allocation of capital and labor to ensure that every business work well. We will also ensure you have a great CEO for each firm.
According to Page, this move will allow them to focus on more ambitious projects such as the Google X division that will keep track of the Wing, a delivery system through drones concept.
Alphabet Inc. will replace Google Inc. as the company that will be present in the stock market.