Each business will have its own CEO, he said.
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Here is what we know so far – Google’s billionaire co-founders Larry Page and Sergey Brin will run Alphabet, with Page as CEO and Brin as President.
Clearly separating Google from other ventures could give the CEO of each company the ability to focus on their unique areas of expertise.
Under the change, which was announced on Monday, a new parent company will be created called Alphabet.
“This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google“, Page said. Ruth Porat, the company’s chief financial officer who joined from Morgan Stanley this year, has promised to make it more accountable. Google, the thing you use to search for stuff, is still known as Google, but will now just be one of Alphabet’s many businesses.
Furthermore, to prove a trademark infringement, BMW would have to show that the new Alphabet created a “likelihood of confusion” among consumers between the two brands, which could occur if both brands offered similar goods and services. “B” could be for Boston Dynamics, the robotics company acquired by Google in 2013, which builds robots that mimic the movements of humans and animals, including for the U.S. military.
In a filing with federal regulator Securities and Exchange Commission, Google informed about its organizational restructuring. All it consists of right now is a letter from Larry Page and a link to Google’s existing investor relations page. Under the restructuring, the main Google business results will reported separately from the rest of the Alphabet businesses as a whole. Its other so-called “moonshot” businesses are…not so much. Google’s core business will be left in the hands of longtime executive Sundar Pichai, whom many have expected to succeed Page.
“We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes”, Page writes in his post. Brin will be its president, and Eric Schmidt will be the executive chairman of Alphabet.
The leasing company’s website – www.alphabet.com – struggled to initially cope with traffic after Google announced the new parent company’s name, with people mistakenly thinking the vehicle leasing site was something to do with the tech company. He was promoted to be Page’s top deputy last year, putting him in line to be CEO.
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They may well have reason to feel fortunate that Mr. Pichai is the man to head their $66-billion revenue, $16-billion profit, company- by most accounts he combines a deep passion for engineering excellence with a rare managerial quality of attracting the best talent into the teams he works with.
