Internet search engine giant announces massive shake-up; Founder Larry Page to head new mother company – Alphabet
BestMediaInfo Bureau | Mumbai | August 12, 2015
Internet search engine giant Google has named Indian-born Sundar Pichai as CEO. Google has created a new mother company, Alphabet, and Google Founder Larry Page will be its CEO. Page disclosed these announcements on the official Google blog. Earlier, Pichai was appointed as Product Chief by Page in 2014.
“Sundar has been saying the things I would have said (and sometimes better!) for quite some time now, and I’ve been tremendously enjoying our work together. He has really stepped up since October of last year, when he took on product and engineering responsibility for our Internet businesses. Sergey and I have been super excited about his progress and dedication to the company. And it is clear to us and our board that it is time for Sundar to be CEO of Google,” Page wrote on the official Google blog.
Pichai, 43, was born in Chennai. He earned his Bachelor of Engineering degree from Indian Institute of Technology, Kharagpur in Metallurgical Engineering. He holds an M.S. from Stanford University and an MBA from the Wharton School of University of Pennsylvania, where he was named a Siebel Scholar and a Palmer Scholar. Pichai worked in engineering and product management at Applied Materials and in management consulting at McKinsey & Company.
On March 13, 2013, Pichai added Android to the Google products he oversees. Android was formerly managed by Andy Rubin. He was rumoured to be one of the contenders for the CEO’s position at Microsoft in 2014.
Meanwhile, Google Founders Page and Sergey Brin will shift their focus to Alphabet. Alphabet is mostly a collection of companies. The largest of which is Google. The newer Google is a bit slimmed down, with the companies that are pretty far afield of the group’s main Internet products contained in Alphabet instead.
“Sergey and I are seriously in the business of starting new things. Alphabet will also include our X Lab, which incubates new efforts like Wing, our drone delivery effort. We are also stoked about growing our investment arms, Ventures and Capital, as part of this new structure,” Page wrote in his blog.
Page added, “We liked the name Alphabet because it means a collection of letters that represent language, one of humanity’s most important innovations, and is the core of how we index with Google search. We also like that it means alpha-bet (Alpha is investment return above benchmark), which we strive for! I should add that we are not intending for this to be a big consumer brand with related products – the whole point is that Alphabet companies should have independence and develop their own brands.”
Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights. Google will become a wholly-owned subsidiary of Alphabet.