The co-founders of Google Larry Page and Sergey Brin announced that they will resign from their respective job titles as CEO and president of Alphabet. The announcement was done in the afternoon. Sundar Pichai who is a part of Google will be the new president of Alphabet as well.
Larry Page and Sergey Brin both will continue as active shareholders and board members of the company.
A joint letter said that they would remain “effectively included as board members, investors, and co-founders”, however, said it was the “natural time to simplify our management structure”.
We’ve never been ones to hold the management’s job when we believe there’s a superior method to run the organization. And, Alphabet and Google have no need of two CEOs and a President,” their letter said.
They additionally declared the time had come to “accept the job of pleased guardians – offering guidance and love, yet not every day pestering” and demanded there was “no better individual” to lead the organization into the future than Mr. Pichai.
Letter Regarding Sundar Pichai: