Yahoo Finance Google founders Page and Brin stepping down from executive roles at Alphabet
Google founders Larry Page and Sergey Brin will no longer run Google's parent company Alphabet, the technology giant announced in a public letter.
Sundar Pichai will become chief executive of both Google and Alphabet. Page and Brin will continue their involvement as co-founders, shareholders and members of Alphabet’s Board of Directors
The shock move follows years of speculation over the pair's role in the running of the business by failing to appear at official events like shareholder's meetings and generally rescinding from the public eye.
The letter, signed by Sergey and Brin, stated: "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!”
“We’ve never been ones to hold on to management roles when we think there’s a better way to run the company.”
“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.”
