You all must have already read it! You all must have already jumped as soon as your news feed buzzed along with the morning alarms.
In the roads of Wall street the name “Google Inc” won’t be heard again. Instead, arguably the most influencing brand in technology goes under a giant umbrella company known as “Alphabet, Inc.”
Alphabet would be the parent entity, housing several companies, with the biggest among them Google. In addition, the portfolio would include Nest, the smart-thermostat maker, and Calico, a company focused on longevity, among other things.
What it means is, the current Google CEO Larry Page along with Sergey Brin, who co-founded the web search business with him in 1998 will run the place. Sundar Pichai gets to head Google as a result, as the new CEO of Google Brand. In layman’s terms, Larry Page ain’t stepping down, he is stepping up, above the limits of “Google”, which is just a “G” in “Alphabet”. The organisation becomes bigger than ever. Larry Page becomes bigger than ever. This single step is a leap of fate. Information and Technology industry changes forever.
The official google blog explains the phenomenon this way,
What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead. What do we mean by far afield? Good examples are our health efforts: Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). 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. We will rigorously handle capital allocation and work to make sure each business is executing well. We’ll also make sure we have a great CEO for each business, and we’ll determine their compensation. In addition, with this new structure we plan to implement segment reporting for our Q4 results, where Google financials will be provided separately than those for the rest of Alphabet businesses as a whole
The biggest winner in all this is Sundar Pichai, a genius innovator of Indian origin, who takes over as CEO of Google.
Interesting to note is the fact that, last year, around the same time, Satya Nadella, another Indian became the CEO of Bill Gates dream team known as Microsoft.
India already has a strength of over 3 million IT professionals, which is one of the highest in the world.
With Satya and Sundar heading two behemoths of the industry, India finds itself as a sudden contender for the tag of IT supremo.
Things are changing fast and a lot of present will be past in very near future. For the moment, I feel extremely proud to be an Indian.
You can read Larry Page’s blogpost “G for Google” at official google blog right here.
You can also check out the official transition document of Nasdaq right here.