Google founders Larry Page and Sergey Brin have announced that they are stepping down from their roles as chief executive officer and president of parent company Alphabet.
Google founders Larry Page and Sergey Brin will step down from their positions as CEO and president, respectively, of Alphabet, the parent company of online giant Google. A company statement indicated that Google CEO Sundar Pichai will take over the role of Alphabet's CEO too.
Page and Brin, who founded Google in a California garage in 1998, created Alphabet in 2015 as part of a corporate restructuring initiative. It was aimed at making the tech company's activities "cleaner and more accountable" as it expanded its business from internet search into other areas such as self-driving cars.
Both Page and Brin transferred from Google to Alphabet upon its formation in order to focus on starting new initiatives. On Tuesday, the co-founders announced in a blog post that they are stepping away from the day-to-day management of the company.
The joint letter stated that they will remain "actively involved as board members, shareholders and co-founders", but said it was the "natural time to simplify our management structure".
The letter added: "We've never been ones to hold on to management roles when we think there's a better way to run the company. And Alphabet and Google no longer need two CEOs and a President."
They also said that it was time "assume the role of proud parents - offering advice and love, but not daily nagging" and emphasized that there was "no better person" to lead the company into the future than Pichai.
The 47-year-old Pichai studied engineering in his home country India before going to the US to study at Stanford University and the University of Pennsylvania. He joined Google in 2004.
In response to the founders, Pichai said: "The founders have given all of us an incredible chance to have an impact on the world. Thanks to them, we have a timeless mission, enduring values, and a culture of collaboration and exploration that makes it exciting to come to work every day."
"It's a strong foundation on which we will continue to build. Can't wait to see where we go next and look forward to continuing the journey with all of you," he added.
