On Tuesday, Alphabet has announced that the co-founders Sergey Brin and Larry Page are going to leave the full control of both Google and their parent company and the control is going to go to CEO SundarPichai. This puts an end to their reign of the most powerful companies in Silicon Valley.
Citing the evolution of the tech giant from its inception and operation during the height of internet bubble, both Page and Brin who were serving as the chief executives of Alphabet said, that the time had arrived for the simplification of their management structure.
In the past few years both these men had at a large scale let the spotlight be taken to Pichai who is a veteran at Google and has become the face of Google publicly ever since he took over its reins in the year 2015. The holdings of the company Alphabet which is among the most valuable companies in the world include YouTube and Fitbit and amount to $900 billion.
Brin and Page said that they were not the kind who would keep holding on to the role of management and they said that Google and Alphabet did not need one president and two CEOs
The two entrepreneurs who were both 46 year old have written in a post that in future SundarPichai is going to be the CEO for both Alphabet and Google. He is going to be the executive who is both accountable and responsible for the leadership of google and the management of investment in the portfolio of Alphabet in the portfolio of the other bets.
This transition has arrived at a major time for Google as there is public pressure over trust and other concerns related to data security.