Google co-founders Larry Page and Sergey Brin have announced they are stepping away from their respective roles as CEO and president of parent company Alphabet.
The shock move means current Google CEO Sundar Pichai will consolidate his control over the entire organisation, taking over as CEO of Alphabet while continuing as Google boss.
The changes are effective immediately.
“I’m excited about Alphabet and its long term focus on tackling big challenges through technology. 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’s a strong foundation on which we will continue to build,” said Pichai.
Page and Brin founded Google in 1998 and have remained involved with the company ever since, founding Alphabet as a holding company in 2015.
“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,” the pair said in a note.
“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!”
While the move does hand increased power to Pichai, who has led Google since 2015, Page and Brin said it is about simplifying the leadership team.
“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,” they said.
“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.”