The days of Alphabet, the Google parent company that Larry Page and Sergey Brin created as a playground for ambitious new bets, may be numbered.
A little over four years after Page and Brin formed Alphabet, the two made a surprise announcement on Tuesday that Google CEO Sundar Pichai will become Alphabet’s CEO, replacing Page. Brin will give up the title of president of Alphabet. The two Google founders will remain as board members and controlling shareholders. But the moves distance the two from the management of the company they created in 1998.
“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!” Page and Brin wrote in a post about the change.