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Google ,the internet search engine is all heading for some exits and additions. Google founders Larry Page and Sergey Brin are stepping down as leaders of parent company Alphabet Inc., ending day-to-day involvement . The company in a statement announced that the CEO of Google Sundar Pichai will also now head Alphabet Inc
The transition gives Pichai, who has led Google since 2015, oversight of the conglomerate’s vast array of expensive, futuristic endeavors, such as autonomous cars and new health-care technology. Page and Brin will still be controlling shareholders and stay on the board.
“We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as board members, shareholders and co-founders,” Page and Brin wrote. “In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!”
In 2015, Google reorganized into the Alphabet holding company, and Page and Brin stepped back by naming Pichai CEO of Google. Page has been criticized for not engaging more as Google’s growing power has sparked scrutiny from regulators and lawmakers. Promoting Pichai to lead Alphabet and appointing Pichai to lead both entities is a clear sign the founders believe in his abilities. The changes are also an acknowledgment of what has been happening at the company in recent years. Pichai has been running Google, while bringing several Alphabet projects under his control. Pichai has also testified in Congress and handled most of the other controversies the company has faced recently, such as employee protests over military work and executive misconduct.
Page and Brin started their web search engine in 1998 from a research project at Stanford University, turning it into one of the largest and most-profitable businesses on earth. Page served as the first CEO before the board brought on Eric Schmidt to led the company from 2001 to 2011. Page returned as CEO after that and oversaw Google’s expansion into far-flung areas, including high-speed fiber internet service and longevity research, as well as expensive flops such as its push into social networking. Brin, meanwhile, oversaw the company’s skunk works lab developing self-driving cars and the doomed Google Glass wearable tech.
The Google founders will still control Alphabet through special voting shares. The company was one of the first prominent Silicon Valley firms to create a structure that gives insiders outsized power. Page and Brin currently control more than 50% of the votes, and a spokeswoman for Alphabet said the founders have no plans to sell their stock, beyond previously disclosed plans.
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