Google Co-founders Larry Page and Sergey Brin Step down from Parent Firm

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Link: Google co-founders Larry Page and Sergey Brin step down from parent firm [bBC News]

 

Larry Page and Sergey Brin, co-founders of Google, have announced they are stepping down from running the online giant's parent company.

 

The pair will leave their respective roles as Alphabet's CEO and president but will remain on the company's board.

 

Google's CEO Sundar Pichai will become Alphabet's CEO too, a statement said.

 

Alphabet was created in 2015 as part of a corporate restructuring of Google, which Mr Page and Mr Brin famously founded in a California garage in 1998.

 

The parent company was intended to make the tech giant's activities "cleaner and more accountable" as it expanded from internet search into other areas like self-driving cars.

 

The pair moved from Google to Alphabet when it was formed - saying they were making the jump to focus on starting new initiatives...

 

...Yet while the pair are apparently relinquishing management duties, it won't mean giving up ultimate power. Between them, they control 51% of voting rights on Alphabet's board. This won't change. They likened their new role to being "proud parents" to the company, looking on with close interest and care.

 

But should they feel the need, they can override any decision Mr Pichai makes - with little more than a parental "because we said so".