Google unveils surprise restructuring under new parent company 'Alphabet'
As easy as ABC
Internet giant – Google – has announced a surprise restructure, unveiling a new parent company called Alphabet Inc. Presenting a new empire that has been "a bit slimmed down," on Monday evening, Google will take its projects outside of its main Internet products and contain them within Alphabet instead.
"Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet (http://abc.xyz). I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President." – google founder, larry page
Some of Google's most famous products including search, YouTube, Andriod and apps, will remain largely unchanged. Whilst its lesser known offerings including its drones, the investment and research divisions and the smart-home unit Nest, will all operate under Alphabet. "Fundamentally, we believe this allows us more management scale, as we can run things independently that aren't very related. Alphabet is about businesses prospering through strong leaders and independence. In general, our model is to have a strong CEO who runs each business, with Sergey and me in service to them as needed."
"This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google," Google founder Larry Page announced in an official blog post. Read the full letter here.