Google co-founders Larry Page and Sergey Brin have stepped down from their executive positions at Google’s parent company Alphabet Inc. They have now handed over the reins to Google CEO Sundar Pichai. He will now take over Alphabet as well. Pichai has inherited the sole responsibility for a company buffeted by antitrust investigations.
Page and Brin had drawn criticism from employees and U.S. lawmakers for the past two years. They had demanded answers from them about controversial company projects such as an experimental search app for Chinese users.
Page and Brin wrote in a blog post on Tuesday, “While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it’s time to assume the role of proud parents offering advice and love, but not daily nagging!”
Google CEO Sundar Pichai took to social media and thanked founders Larry Page and Sergey Brin for their vote of confidence in his abilities, to take charge of Alphabet Inc. In a tweet posted this morning, Mr Pichai said he was excited about the Google parent company’s “long-term focus on tackling big challenges through technology”.’
Check out his tweet here:
In a statement Alphabet said, Page and Brin, will remain directors, but will cede their CEO and president titles, immediately. The co-founders will still control more than 51% of shares.
Ever since the news of Page and Brin stepping down and Pichai taking over, Alphabet shares rose 0.64% following the after-hours announcement to $1,303.
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