Yesterday, Google announced that they will no longer be functioning under the well-known brand, but restructuring as 'Alphabet'. This will be the overriding holding company, with Google becoming a subsidiary of this.
The whole shakeup has emerged from the top, with Google's co-founders, Larry Page and Sergey Brin, stating that the entire company will be changing, with big alterations to the structure and management; the biggest change being that Sundar Puchai will now oversee the search engine, Google.
This restructure comes as part of an initiative to give investors chance to see where their money is going and exactly what it is being spent on. With the huge success of the search engine, it's clear that Google, or 'Alphabet', can play its hand elsewhere.
The top management restructure will look like this:
- Larry Page, Alphabet CEO
- Sergey Brin, Alphabet President
- Eric Schmidt, Alphabet Executive Chairman
- Ruth Porat, Alphabet and Google CFO
- David C. Drummond, Alphabet Chief Legal Officer
- Sundar Puchai, Google CEO
It seems that Google will continue to push the main Internet products that the business has to offer, but Alphabet will expand and increase the growing need for other products and business sectors. Statements suggest that the separation of the companies will enable them to independently market items that aren't entirely related.
Google is no longer just a search engine; Alphabet is now an all-encompassing enterprise. Watch this space to see how it all plays out...
Sources: Guardian | Wired | The Drum