MOUNTAIN VIEW – Google founders Larry Page and Sergey Brin are stepping down from their leadership roles at Alphabet, the parent company of Google. The change is effective immediately.
Larry Page had been serving as CEO and Sergey Brin as President of Alphabet. Google CEO Sundar Pichai will take over as CEO of Alphabet while the President’s position will be eliminated.
Page has not been seen in public the last several years — despite his role as CEO of Alphabet — and has experienced problems with his voice due to an issue with his vocal cords dating back to 2013.
Both Page and Brin will continue their involvement in the company as co-founders, shareholders and members of Alphabet’s Board of Directors. The duo rank among the world’s wealthiest people with a net worth of nearly $60 billion each in Alphabet stock.
Alphabet and Google have come under increased scrutiny the last couple of years from the government and dissatisfaction from some employees over the handling of certain issues including sexual harassment in the company.
Pichai becomes the CEO of Google and Alphabet. He will remain the CEO of Google, and assumes the role of managing Alphabet’s investment in its portfolio of Other Bets. Pichai will remain a member of Alphabet’s Board of Directors.
Page and Brin released the following letter on the Alphabet website:
“Google was born in 1998. If it were a person, it would have started elementary school late last summer (around August 19), and today it would have just about finished the first grade.”
Today, 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. 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!
With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure. We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets. We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!
Sundar brings humility and a deep passion for technology to our users, partners and our employees every day. He’s worked closely with us for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors. He shares our confidence in the value of the Alphabet structure, and the ability it provides us to tackle big challenges through technology. There is no one that we have relied on more since Alphabet was founded, and no better person to lead Google and Alphabet into the future.
We are deeply humbled to have seen a small research project develop into a source of knowledge and empowerment for billions – a bet we made as two Stanford students that led to a multitude of other technology bets. We could not have imagined, back in 1998 when we moved our servers from a dorm room to a garage, the journey that would follow.
Larry Page and Sergey Brin