Google Restructured New Alphabet Company Revealed
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Google one of the world’s largest technology Companies is set to be rolled into a new entity called Alphabet.

 

A filing with US authorities reveals that the new entity

which will own Google will be run by Google founder Larry Page while the big

search Company will be run by Sundar Pichai who becomes the new CEO of Google.

 

A letter sent by Larry Page with the regulatory filing

reveals that Alphabet will be “a collection of companies,” the largest of which

will be Google. Mr. Page will be Alphabet’s chief executive, with Google

co-founder Sergey Brin as president and Eric Schmidt as executive chairman.

 

Shares of Google increased about 4% in recent after-hours

trading.

 

According to a regulatory filing with a letter from Chief

Executive Larry

 

Mr. Pichai, was previously was in charge of product and

engineering for Google’s Internet businesses.

 

“It is clear to us and our board that it is time for Sundar

to be CEO of Google,” Mr. Page said in the letter, noting that Mr. Pichai “has

really stepped up since October of last year, when he took on product and

engineering responsibility for our Internet businesses.”

 

Ruth Porat, who was the chief financial officer of Google,

will be Alphabet’s CFO.

 

In the letter, Mr. Page called Alphabet a “collection of

companies,” the largest of which is Google. He said the new Google will be

“slimmed down” compared to its current form, with companies that are “pretty

far afield of our main Internet products” contained in Alphabet rather than

Google. This includes health efforts like Life Sciences and Calico, which will

each have its own chief executive. It will also include the X lab and Wing, its

drone delivery effort.

 

“Fundamentally, we believe this allows us more management

scale, as we can run things independently that aren’t very related,” said Mr.

Page.

 

Alphabet Inc. will replace Google Inc. as the publicly traded

entity and all shares of Google will convert into Alphabet shares.