Larry Page is Stepping Down as CEO of Alphabet
Posted on 12/03/2019
Larry Page steps down as CEO of Alphabet. Alphabet is the parent company of Google. Larry Page will remain on the board of directors of Alphabet, along with Sergey Brin.
Sundar Pichai will take his place, while remaining CEO of Google. Alphabet remains in the crosshairs of several U.S. government and state governments over its data practices. Alphabet is also facing more potential fines from the European Commission. In June 2017, Google was fined €2.42 billion for breaching European Union antitrust rules by using its market dominance as a search engine to give an unfair advantage to its own shopping service.
Some of the press release by Page reads, “With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure. 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. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet’s investment in our portfolio of Other Bets. We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!
Sundar brings humility and a deep passion for technology to our users, partners and our employees every day. He’s worked closely with us for 15 years, through the formation of Alphabet, as CEO of Google, and a member of the Alphabet Board of Directors. He shares our confidence in the value of the Alphabet structure, and the ability it provides us to tackle big challenges through technology. There is no one that we have relied on more since Alphabet was founded, and no better person to lead Google and Alphabet into the future
We are deeply humbled to have seen a small research project develop into a source of knowledge and empowerment for billions—a bet we made as two Stanford students that led to a multitude of other technology bets. We could not have imagined, back in 1998 when we moved our servers from a dorm room to a garage, the journey that would follow.”