Sundar Pichai is taking over as CEO of Alphabet Inc. and is at the same time CEO of Google. After founding Google in 1998 and Alphabet in 2015,on Tuesday, December 3, 2019, the founders Larry Page and Sergey Brin announced they will be stepping down as CEO of parent company Alphabet Inc., ending their day to day involvement as regulators intensify scrutiny of an internet industry the two men helped create.
In 2015, Sundar Pichai was introduced as new CEO of Google, after the founders of the company decided to establish parent company Alphabet, which would help structure and organize their business and aid accountability.
While Larry and Brin were in charge of the parent company, managing and running the day-to day activities of the company, Pichai was in charge of Google. After four years of establishing the company, the both founders are stepping down at 46 and shifting all the responsibility to their trusted and current CEO of one of their arms: Pichai, who will act CEO of both structures.
Pichai who hails from India and known for his many revolutions in digital technology has been instrumental in taking the company to another level with his creativity and smartness. His hard work and dedication has earned him his employers’ trust and he will now be taking full responsibility of the company, though Larry and Brin will still contribute to the board decision where need arises.
The founders who are both 46, stepping down and giving the responsibility of their company to Pichai who is 47, means that age is not the problem but expertise and professionalism.
The transition gives Pichai, who has led Google since 2015, oversight of the conglomerate’s vast array of expensive, futuristic endeavors, such as autonomous cars and new health-care technology.
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The Founders said:
We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as board members, shareholders and co-founders,” Page and Brin wrote. “In addition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!”
Alphabet shares rose almost 1% in extended trading on Tuesday. The stock closed at $1,294.74 in New York, leaving it up about 24% so far this year.
“The next chapter is going to be a lot around policy and data privacy and regulation,” Gene Munster, an analyst with Loup Ventures, told Bloomberg TV. “If you think about the founders and what they’ve accomplished and what the next couple of years would look like testifying for example and going through some of the minutia of that I am not surprised to ultimately see this.”
And appointing Pichai to lead both entities is a clear sign the founders believe in his abilities, Munster added. “If they didn’t have that then he would not be the one tapped for the broader role,” Munster said. “Even the greats move on.”
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Pichai has a deep technological background. He studied Metallurgical Engineering at the Indian Institute of Technology in Kharagpur. Pichai picked up his first job as vice president of product management in 2004 with Google, the same year Gmail was introduced. It can therefore be said that he knows the company and what it takes to handle the heavy responsibility.
His consistency and constant input in the development of Google has given him a responsibility he relishes and willing to give more than enough to see achieved expected projects of the company and more.
The 47-year-old said the pair (Larry Page and Sergey Brin) had set up a “strong foundation” on which he would “continue to build”. He is currently worth $600 USD even before taking over the founders.
