Google co-founders to step down at Alphabet, Sundar Pichai to be overall CEO

Google co-founders Larry Page and Sergey Brin are leaving active management of Alphabet Inc. , the parent company of the internet giant, and placing Sundar Pichai at the helm. Larry Page has served as chief executive of Google since 2011, and was previously CEO from Google's inception through 2001, when Eric Schmidt took over. Brin was president of Alphabet, and oversaw the company's "Other Bets" businesses. "In 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost," Page and brin wrote in a letter. "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!" Pichai, currently the CEO of the Google division of Alphabet, will retain that title and also become CEO of Alphabet, effective immediately, according to Alphabet's announcement. Page and Brin will remain on Alphabet's board of directors. Alphabet shares rose about 0.6% in after-hours trading following the announcement Tuesday afternoon. Read More...