Sundar Pichai took the reins of Google back in 2015 and has been the CEO since then. The move was a part of the restructuring process which made Google a subsidiary of the parent company Alphabet. Soon after, Google’s founders moved to Alphabet after handing over Google to Pichai.
However, earlier today, Google’s co-founder Larry Page stepped down from the CEO of Alphabet after naming Sundar Pichai as the CEO of Alphabet. In a blog post, Google co-founders Larry Page and Sergey Brin confirmed that they will be distancing themselves from the day-to-day activities of the company.
While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents — offering advice and love, but not daily nagging!
Larry Page and Sergey Brin will continue to hold the directors’ position but will not take part in the daily activities of the company. Larry Page’s voice has been impaired for years due to the long term illness but Alphabet confirmed that it did not play a role in the decision to step aside.
The move was definitely appreciated by the shareholders as Alphabet’s shares rose 0.75% following the announcement. Currently, the company is trading at a share price of $1,294.74.