Google to create a new parent company called ‘Alphabet’

Google has just announced that the company is planning to create a parent company called Alphabet that will replace Google Inc. Google will be the biggest subsidiary/entity owned by the parent company – Alphabet.

As part of the creation of the new company, Google’s CEO and founder Larry Page will become CEO of Alphabet and Sundar Pichai will take over as CEO of Google.

“Our company is operating well today, but we think we can make it cleaner and more accountable,”

“So we are creating a new company, called Alphabet. I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President.”

Larry Page wrote in an announcement with the title ‘Google Announces Plans for New Operating Structure’.

The new company structure will allow Alphabet/Google to build a portfolio of businesses.  Last year, In an interview with The Financial Times, Larry Page suggested that Buffett and his business structure are the closest models for what he wants to build in the future.

 

 

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Category Google, News

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