New Delhi: Tech giant Google on Monday unveiled a new corporate structure dubbed as ‘Alphabet’ where co-founder and current CEO Larry Page will lead the new company, while Sergey Brin, the other co-founder, will serve as President.
Here are a few things that might interest you and you might need to know.
What is Alphabet
Alphabet is collection of companies, the largest of which is Google and will include businesses such as Google X, Calico, Google Capital, Google Ventures etc.
The newly created Alphabet will have Larry Page as the CEO, Sergey Brin will be its President and Eric Schmidt will be its Executive Chairman. Sundar Pichai on the other hand will be the CEO of Google.
Why is Google doing this
This will provide more management scale and allow companies under the Alphabet umbrella to be operated independently. The reorganisation will help in greater transparency.
What it means for financial reporting and stocks
The results for the segment companies will be broken out separately. Alphabet Inc will replace Google Inc as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet.