One of the founding partners of Google Larry Page and Sergey Brin, roofing company alphabethave announced their resignation. The two will leave their position as CEO of Alphabet, but will remain on the board of directors of the company. Sundar Pichai, CEO of Google, is also the CEO of Alphabet. He will be.
Page and Brin founded Google in 1998 and in 2015 they entered a corporate structure within Alphabet. Recall at this point that Alphabet has expanded the activities of its technological giant, which range from research on the Internet to other areas such as autonomous vehicles. Together with the Alphabet, they said they wanted to focus on new businesses, but in an article published yesterday on his blog, the founding partners, both 46, announced that they had left the company. society.
According to the records of the company, Page and Brin each hold 25.9% and 25.1% of the voting power of Alphabet. more than half of the company's controlling shares. The reason is that 10 votes per share can be expressed in the management structure of the company. Google confirmed Tuesday to CNBC that the voting structure of the company would not be changed as part of a leadership change.
Page and Brin have announced that they will remain active as members of the board of directors, shareholders and founding partners. However, they said that it was time to change the management structure. They added that the company did not need two CEOs and one president.
Page and Brin said that they would be like parents who advise the company but do not interfere with the daily work. They also pointed out that Sundar Pichai was the best fit for the CEO of Alphabet.