After roughly 20 years of leadership, Google's original co-founders -- Larry Page and Sergey Brin -- have announced their decision to step down from their management roles at Alphabet (Google's parent company). Page will be removing himself as CEO, and Brin will no longer be president.
Both individuals will "continue their involvement" with Alphabet as shareholders, members of the company's Board of Directors, and co-founders (whatever that entails), but they will no longer be as hands-on as they have been up to this point. The founders feel that Alphabet as a whole is in a stable enough position that it no longer needs direct oversight to prosper.
"Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost," Brin and Page wrote in a letter. "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!"
Sundar Pichai, the current CEO of Google, will be replacing Page as the CEO of Alphabet. For now, he will continue to serve in both roles, which will undoubtedly keep him quite busy.
"I'm excited about Alphabet and its long term focus on tackling big challenges through technology," Pichai said in a statement. "I'm looking forward to continuing to work with Larry and Sergey in our new roles. Thanks to them, we have a timeless mission, enduring values, and a culture of collaboration and exploration."
It remains to be seen how big of an impact this management shakeup will have on Alphabet's operations moving forward, but it's probable that Page and Brin have been ramping down their involvement with the company for some time.
Google was first started back in 1996 as a simple research project (and search engine), but now, as even the most casual internet user can tell you, it's a force to be reckoned with. Google and its parent company have a hand in just about every market or industry under the sun: music, video streaming, gaming, smartphones, productivity, laptops, and much more. This extensive reach has allowed Alphabet to employ tens of thousands of workers and generate billions of dollars in revenue every year.
We look forward to seeing what the future holds for a fully Pichai-led Alphabet, and as usual, we'll continue to keep you updated on the tech giant's latest products, services, and missteps.