Google founders Larry Page and Sergey Brin have announced that they are stepping aside as the CEO of the parent company Alphabet. This move is followed by Sundar Pichai becoming the CEO of the company while also being the CEO of Google.

Both the co-founders mentioned that since Alphabet is now an established company and its various companies are operating independently, it is now the time to simplify the management structure. Alphabet as a parent company was formed in 2015 and there were several brands as a part of it. Now, since things have been such that Google is mostly the face of the company, it would make sense that Sundar Pichai would lead both the companies together.

Pichai tweeted about the future of the companies and the new change won’t affect the functioning of Alphabet, and he will be continuing to focus on Google while keeping it a focus also to help Alphabet in its long-term focus and future challenges.

I’m excited about Alphabet’s long term focus on tackling big challenges through technology. Thanks to Larry & Sergey, we have a timeless mission, enduring values and a culture of collaboration & exploration – a strong foundation we’ll continue to build on, said Sundar Pichai.

In the letter from Larry Page and Sergey Brin, here’s what they mention about the new CEO of the company.

Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets. We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!

Here’s the whole letter.

Sundar Pichai, the CEO of Google, becomes the CEO of Google and Alphabet. He will remain the CEO of Google, and assumes the role of managing Alphabet’s investment in its portfolio of Other Bets. Pichai will remain a member of Alphabet’s Board of Directors.

John Hennessy, Chairman of Alphabet’s Board of Directors, said: “It’s impossible to overstate Larry and Sergey’s contributions over the past 21 years. I’m grateful that they will continue their involvement on the Board.”

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