Google founders, Larry Page and Sergey Brin, will step down as CEO and President of Alphabet Inc., Google’s parent company.
Alphabet Inc’s new CEO will be Sundar Pichai, current CEO of Google. Larry Page and Sergey Brin will remain on Alphabet Inc.’s board.
Page and Brin state “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!”
A possible reason for this change is due to scrutiny from regulators and lawmakers against Larry Page for his lack of engagement for managing Google’s privacy policies and power. Promoting Pichai to Alphabet’s CEO will hopefully improve Google’s current situation. That said, both Larry and Sergey still control Alphabet through their special voting stocks and both founders don’t plan to sell more company stocks.
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