Alphabet replace Google as an entity listed on the stock exchange and all actions will be Google automatically converted Alphabet securities with the same rights. Google will no longer be a subsidiary of a group with very extensive activities.
“This new structure will allow us to maintain a huge attention to the tremendous opportunities we have within Google” , wrote Larry Page, Google’s current CEO, in a message on his blog. We chose it because the alphabet is language, one of the most important innovations of mankind, and this is the heart of the indexing activities of search Google. It is also alpha-bet. “
conglomerate
As part of this new structure, Google will retain the main activities of the group, such as Internet search, advertising, mapping, applications, the Android operating system, YouTube and technical infrastructure. “ Alphabet is essentially a corporate assembly. The key, of course, is Google said Larry Page. The new Google is a little thinner, companies are quite far of our key products on the internet are now placed within Alphabet. “
Some subsidiaries, such as Nest, the connected thermometers manufacturer, or Calico, a research laboratory on human longevity, will leave the perimeter of Google to come under the control of Alphabet.
Hailed by the Wall Street
After this, the current CEO of Google, Larry Page will become CEO (CEO) of Alphabet. Sundar Pichai will become the new CEO of Google, whose Ruth Porat will remain CFO.
Sergey Brin will become president of Alphabet and Eric Schmidt will be Executive Chairman.
“ This suggests that in all probability, Google will not slow the pace of his experiments such as autonomous cars. This suggests that they will really try to tranformer technological doubled conglomerate a venture capital fund “ has responded Michael Yoshikami, Head of fund management Destination Wealth Management. This surprise announcement after the close on Wall Street was jumped welcomed by the title of almost 7% to 708 dollars in the trade- session.
Google said that the new organization would enter effective “by the end of the year” .
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