Google [stckqut]GOOG[/stckqut] announced a corporate restructuring on Monday, forming an umbrella 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 on Monday called “G is for Google.”
They also said that Sundar Pichai is taking over as CEO of Google. Pichai has worked at Google since 2004, most recently as the senior vice president of product. Pichai has also been the most visible Google executive of late, giving the keynote at Google’s annual developers conference earlier this year.
Source: Meet Alphabet – Google’s new parent company – Aug. 10, 2015