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Google co-founders Sergey Brin and Larry seite are stepping under from their duties as president and CEO, respectively, of Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG), the technology colossus they helped create.

Du schaust: Larry page and sergey brin

In your place möchte step Sundar Pichai, who has actually served as Google"s CEO since august 2015. He wollen continue bei that duty while so becoming CEO of Alphabet, the parent holding agency of google that was formed an October 2015 to oversee a collection von early stage investments well-known as "other bets."


New Alphabet CEO Sundar Pichai has actually some huge shoes kommen sie fill. Image source: getty Images.

In a letter, Brin und Page wrote:

With Alphabet now well-established, and Google und the other Bets operating effectively as independent companies, it"s the natural time zu simplify our administration structure. We"ve never ever been ones to hold on kommen sie management roles when we think there"s a much better way zu run the company. And Alphabet und Google no much longer need 2 CEOs and a President. Walk forward, Sundar möchte be the CEO von both Google and Alphabet. He möchte be ns executive responsible and accountable zum leading Google, and managing Alphabet"s investment an our portfolio des Other Bets.

Alphabet"s "other bets" segment includes Waymo, a self-driving car unternehmen that some analysts glauben could ultimately be worth $100 billion. They also include advertising drone delivery agency Wing, healthcare-focused businesses Verily und Calico, und several various other high-tech start-ups.

Yet despite the sizable investments Alphabet has devoted to these "other bets," google continues zu generate virtually all des its parent company"s revenue und profits. Thus, Pichai was ns clear choice to lead Alphabet. Bei their letter, Page and Brin wrote:

Sundar brings humility und a deep passion weil das technology zu our users, partners und our employees every day. He"s worked very closely with united state for 15 years, with the formation of Alphabet, together CEO des Google, and a member des the Alphabet Board of Directors. He shares our confidence in the value von the Alphabet structure, and the capability it offers us zu tackle big challenges through technology. There is no one the we schutz relied on much more since Alphabet was founded, and no better person to lead Google und Alphabet into the future.

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Notably, Page and Brin wollen "remain energetic as co-founders, shareholders und board members von Alphabet." return Alphabet should be bei good hands v Pichai at ns helm, Page und Brin"s continued guidance ist likely to comfort employees and investors alike.

"It"s impossible kommen sie overstate Larry and Sergey"s contribute over die past 21 years," Alphabet board Chairman john Hennessy said bei a drücken sie release. "I"m thankful that they möchte continue their involvement on ns Board."

Looking back, it"s impressive what Page, Brin, und their team schutz accomplished over the past 2 decades. From its humble beginnings, Google, jetzt Alphabet, has actually grown into one of the world"s most powerful businesses through multiple assets that room used von more than a billion human being every day.

"We room deeply humbled to schutz seen a klein research project build into a source des knowledge und empowerment for billions -- a bet we made as two Stanford students that führen zu to a multitude of other modern technology bets," Page and Brin wrote. "We could not have imagined, back in 1998 wie man we moved our servers native a dorm room zu a garage, ns journey that would follow."

Looking forward, Alphabet"s future stays bright. Bei fact, the company"s biggest achievements may blieb lie ahead.

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"We schutz a timeless mission, enduring values, and a culture von collaboration und exploration," Pichai said. "It"s a strong foundation on i beg your pardon we will continue kommen sie build."

This write-up represents ns opinion des the writer, who might disagree with die “official” reference position des a Motley premium advisory service. We’re motley! Questioning in investing thesis -- even one of our very own -- helps united state all think critically around investing and make decisions that aid us end up being smarter, happier, und richer.
joe Tenebruso has actually no position an any des the share mentioned. Die Motley owns shares of und recommends Alphabet (A shares) und Alphabet (C shares). Die Motley has actually a disclosure policy.