New England Council member Google announced in a blog post their plans for restructuring under a new parent company called Alphabet. Larry Page, co-founder of Google, announced that he and co-founder Sergey Brin will lead the company with Page as CEO and Brin as President. Additionally, Sundar Pichai, who is currently the Product Chief at Google, will become the CEO of Google.
The goal of the restructuring is to allow for a streamlined management system that will enable each subsidiary under the new Alphabet to better focus on its individual function and on innovation. Alphabet will include all of Google’s current services, including Google, Calico, Sidewalk, Nest, Fiber, Google Ventures, Google Capital, and Google X. Under the new structure, Search, Advertising, Maps, YouTube, and Android will all remain a part of Google.
In the post, Page states, “For Sergey and me this is a very exciting new chapter in the life of Google—the birth of Alphabet. We liked the name Alphabet because it means a collection of letters that represent language, one of humanity’s most important innovations, and is the core of how we index with Google search! We also like that it means alpha‑bet (Alpha is investment return above benchmark), which we strive for! I should add that we are not intending for this to be a big consumer brand with related products—the whole point is that Alphabet companies should have independence and develop their own brands.”
The New England Council wishes Google much success with this restructuring and looks forward to many new innovations from the company in the years to come.
For more information about the reorganization, see this New York Timesarticle.
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