Google will become a subsidiary of a new parent company called Alphabet, under a massive restructuring arrangement designed to let the company’s businesses operate more efficiently.
Under the changes, announced Monday, Google co-founder Larry Page will become CEO of Alphabet. Sundar Pichai, formerly VP at Google where he oversaw Android, Chrome and Google apps, will become CEO of Google.
Alphabet will include a group of companies, the largest of which will be Google. Other efforts will be run separately, including health efforts such as Life Sciences, which works on glucose-sensing contact lenses, and Calico, focused on longevity. Alphabet will also include Google’s advanced X labs.
Alphabet will replace Google as the publicly traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, Page said in an announcement.
(More to come)
Next read this:
- Top 9 challenges IT leaders will face in 2020
- Top 5 strategic priorities for CIOs in 2020
- 7 'crackpot' technologies that might transform IT
- 8 technologies that will disrupt business in 2020
- 7 questions CIOs should ask before taking a new job
- 7 ways to position IT for success in 2020
- The 9 new rules of IT leadership
- 20 ways to kill your IT career (without knowing it)
- IT manager’s survival guide: 11 ways to thrive in the years ahead
- CIO resumes: 6 best practices and 4 strong examples
- 4 KPIs IT should ditch (and what to measure instead)