- Google co-founders have given control of their Alphabet company to current Google CEO, Sundar Pichai
- Pichai has assured the public that the change will not affect Google in any way
- The duo will remain in the employment of Alphabet and on the company's board
Google co-founders Larry Page and Sergey Brin announced that they are giving control of their parent company, Alphabet, to current Google CEO Sundar Pichai. The men will remain employees at Alphabet and keep their seats on the board.
According to TheVerge, the duo relinquished the almost trillion-dollar empire because they believe that it is time to simplify their management structure.
In an email, Pichai said that the change will not affect daily operations at Google. He added that he was excited to take on new challenges at Alphabet.
The news has not shocked many who know how Page and Brin operate. The pair are hardly ever in the limelight and rarely made public appearances.
The creation of Alphabet in 2015 was to split Google into its main business, which includes its search engine and nearly a dozen other massive products, and the other arms of the company, like its X lab.
The company also gave a chance for the duo to fade even further into the background. Page became involved in electric aircraft companies like California-based Kitty Hawk, while Brin has mostly stayed out of the headlines.
Pichai has gone on to grow Google and increase their investment into various projects including artificial intelligence. Since the creation of Alphabet, the company’s stock price and revenue has more than doubled.
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Meanwhile, Legit.ng earlier reported that Mark Zuckerberg, the CEO of Facebook, and his wife, Priscilla Chan, said that they would donate 99% of their earnings to the Chan Zuckerberg Initiative (CZI).
It should be noted that CZI is one that is targeted at using its resources to deal with all human diseases and improve education in the world.
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