Alphabet CEOs Larry Page, Sergey Brin Resign

Alphabet CEOs Larry Page, Sergey Brin Resign

Even though Larry and Sergey assure they'll be involved with Google and Alphabet, it's still a little melancholy to see both men stepping down from their roles within the companies. The executives wrote it was time for the companies to "simplify management structure". They will remain involved with the company as shareholders and members of Alphabet's board of directors, while current Google CEO Sundar Pichai will assume the role of Alphabet CEO as well. "And Alphabet and Google no longer need two CEOs and a President", they wrote in a letter.

Google has almost doubled its headcount since Mr Pichai took over as chief executive, growing from a company of 59,000 employees to 114,000 now.

John Hennessy, chairman of Alphabet's board, said it is "impossible to overstate Larry and Sergey's contributions over the past 21 years".

Earlier this year, Pichai met with Trump and appeared to ease the USA president's concerns that Google was unwilling to help the USA military but was boosting China and its military.

Page and Brin founded Google in 1998 while they were Ph.D. students at Stanford University, and have since guided the company through extremely rapid growth beyond its core search engine.

According to the blog post, Pichai "will be the executive responsible and accountable for leading Google, and managing Alphabet's investment in our portfolio of Other Bets". They intend to be "proud parents" from this point, "offering advice and love, but not daily nagging!"

Alphabet board chairman John Hennessy applauded the work Page and Brin did as founders.

"I will continue to be very focused on Google and the deep work we're doing to push the boundaries of computing and build a more helpful Google for everyone", Pichai said.

The pair still hold more than 50 per cent voting shares of Alphabet.

Google's stock increased less than 1% in after-hours trading after the news was announced.

Page dropped out of graduate school at Stanford to start Google and doesn't have a business degree.

The 47-year-old was born in India, where he studied engineering.



Latest news

‘RHOA’ star Porsha Williams is getting married again
She had found out before their engagement that they were expecting their first child and announced it via the Bravo show . McKinley's cheating scandal has been playing out in Real Housewives of Atlanta Season 12 .

London NATO summit begins as tensions spike on either side of Atlantic
The US President responded in kind in London , having arrived for a summit about the 70-year-old military alliance. Trump and Macron were once so close that their friendship was regarded as a " bromance ".

Ethereum’s Vitalik Buterin calls for Virgil Griffith’s release
Griffith was released on an $800,000 bond, which his parents and sister agreed to secure with their homes as collateral. The court documents implied that Griffith acknowledged that this would violate sanctions against the communist state.

Oil prices gain as investors eye deeper OPEC cuts
USA crude oil inventories likely declined by 1.8 million barrels last week, according to six analysts polled by Reuters. West Texas Intermediate (WTI) futures rose 91 cents, or 1.7%, to $56.08 a barrel, having risen by more than $1 earlier.

North Korea's Kim celebrates completion of 'modern mountainous city'
Discussing the North Korean leader, Trump said: "I have confidence in him". I like him, he likes me, we have a good relationship. Kim "likes sending rockets up, doesn't he?".

Other news