Google announced a new company called Alphabet and naming a new CEO to the core business of Google.
Google co-founders Larry Page and Sergey Brin will run Alphabet — Page as CEO and Brin as president.
The company, which was founded in 1998 and went public in 2004, announced its new operating structure in a blog post called “G is for Google.”
They also said that Sundar Pichai is taking over as CEO of Google.
Alphabet will operate as the parent company for a number of smaller companies, including Google, which will continue to focus on Internet products. Android, YouTube, search and ads will remain part of Google Inc.
Other departments spinning off into their own sub-companies including research focused Life Sciences (Google contact lenses), the Google X lab (driverless cars, Google Glass, drone delivery), Calico (increasing longevity), and the company’s robotics division. Google Ventures and Google Capital will also become independent Alphabet companies.
The Alphabet companies will retain their current leadership. Nest will be led by Tony Fadell, Sidewalk Labs by Dan Doctoroff, and Calico by Arthur Levinson. YouTube CEO Susan Wojcicki will now report to Pichai.