According to Page and Brin, Google and Alphabet became "well-established" companies that can operate independently and "it's the natural time to simplify" the management structure. The retreat into the background, particularly for Page as CEO, had drawn criticism in the last two years from employees and US lawmakers that demanded answers from him rather than Pichai about controversial company projects.
Google's CEO Sundar Pichai will become Alphabet's CEO too, a statement said.
Pichai has been at Google for more than 15 years and began leading it as CEO in 2015 - the same year Alphabet was created as a parent company.
Pichai said he will continue working with Page and Brin, who will advise as board members and co-founders.
Between the two of them, Mr Page and Mr Brin have a controlling interest of more than 51 percent of the votes in Alphabet through a special class stock.
At this time it is not clear if Sundar will collect a salary for both roles, though as CEO of Alphabet, he may feel the CEO of Google has earned a little extra.
Google Walkout For Real Change was behind the mass employee walkouts at Google in November 2018 over the company's handling of sexual harassment allegations. It also named Pichai the CEO of Google.
We look forward to seeing what the future holds for a fully Pichai-led Alphabet, and as usual, we'll continue to keep you updated on the tech giant's latest products, services, and missteps.
In a blog post shared by the 46-year old co-founders on Tuesday, the pair announced they were planning to step back from their day-to-day duties. While at Google, Pichai was given the task of handling Google's Android business from Andy Rubin, the founder and creator of the Android OS. Page and Brin have much confidence in the guy.
At the time, Google launched Alphabet as an umbrella holding company for both its core Google business as well as so-called other bets, which initially included its Nest smart device business as well as its Google Fiber internet access venture, and companies focused on robotics, self-driving cars and bio-technology.
The move was definitely appreciated by the shareholders as Alphabet's shares rose 0.75% following the announcement.
Googlers past and present aren't happy with Sergey Brin and Larry Page's decision to leave Alphabet. "This process of continuous evolution - which the founders often refer to as "uncomfortably exciting" - is part of who we are".
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