Published: Wed, December 04, 2019
Electronics | By Kelly Massey

Google Founders Larry Page and Sergey Brin Step Down

Google Founders Larry Page and Sergey Brin Step Down

Before today, Larry Page and Sergey Brin were CEO and President of Alphabet - now that job goes to the CEO of Google.

Alphabet was formed in 2015, giving a separate identity to the original company Google and other projects such as autonomous vehicle unit Waymo and smart cities group Sidewalk Labs.

Google CEO Sundar Pichai will retain his responsibilities and also serve as Alphabet CEO, replacing Page. "We are deeply committed to Google and Alphabet for the long term".

Google CEO Sundar Pichai will stay in his role and also become CEO of Alphabet. Page and Brin will continue their involvement as co-founders, shareholders and members of Alphabet's Board of Directors, the memo stated.

John Hennessy, chairman of Alphabet's board, said it is "impossible to overstate Larry and Sergey's contributions over the past 21 years". Pichai, on the other hand, has taken on a higher profile, representing the company in quarterly earnings calls and congressional hearings. Page and Brin are among the world's richest businessmen, with each possessing a net worth of more than $50 billion, according to Forbes. Alphabet has, since inception, had Larry Page as CEO and Sergey Brin as President. They intend to be "proud parents" from this point, "offering advice and love, but not daily nagging!"

Page and Brin started the search giant in 1998 in Silicon Valley.

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The pair have been stepping back from the company's leadership for a while, preferring to stay out of the public eye and to focus on projects that particularly interest them.

Both stopped making appearances at the weekly question-and-answer sessions with employees, and Page didn't attend this summer's Alphabet shareholders meeting even though he was still in the CEO role.

But Mr Bajarin said doing so might make sense, given that Mr Pichai will have so much on his plate as CEO of the overall business, including regulatory pressures from the United States and Europe.

Alphabet shares were up slightly in after-hours trading.

The founders wrote a long letter about the change on the official Google blog.

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