As part of Google’s stated ambition to “do more,” co-founders Larry Page and Sergei Brin have announced they will be restructuring under the umbrella of Alphabet, Inc., a new parent company that will encompass Google and all other Page and Brin projects.
Current Google CEO Page wrote in a blog Monday that in addition to having bigger “crazy” plans, the co-founders intended to make their company “cleaner and more accountable.”
Page will be CEO at Alphabet, and Brin will be president.
In Monday’s blog, Page mentioned some of the projects Alphabet will be focusing on, including a glucose-sensing contact lens and a lifespan controlling project called Calico.
The need for something above Google, Page wrote, was one of larger management capacity.
The new model for the company involves strong CEOs independently directing each business under Alphabet. Page and Brin will handle allocation of the capital that will support each branch.
Replacing Page as CEO of Google, which Page says will remain the largest part of Alphabet, although “slimmed down,” will be Sundar Pichai, who had previously been handling Internet product and engineering at Google.
Susan Wojcicki, CEO of YouTube, will remain in place, Page said in the blog.
By James Haleavy