On 10 August 2015 Search engine giant Google Inc. launched a new parent company called Alphabet Inc.That Alphabet Inc separates its highly profitable search and the advertising business.
New parent company was formed as part of Google’s new organisational structure which will be help the company to keep tremendous focus on extraordinary opportunities & products.
With this Google will be replaced by the Alphabet Inc as the publicly traded entity and all its shares will automatically converted into the shares of new parent entity with same rights. Alphabet Inc will comprise of the search engine unit and all other subsidiaries.
Highlights of the Restructuring of Google:
• Under the new structural arrangement, all subsidiaries of Google will be brought under the control of Alphabet Inc which will come into effect by 2015 itself.
• Alphabet Inc will be led by the Co founder and current (CEO) of Google Larry Page while Sergey Brin, the other co founder, will serve as the President of Alphabet Inc and Eric Schmidt will be executive Chairman.
•Google’s Chief Financial Officer Ruth Porat will become CFO of Alphabet and current directors of the company will become directors of Alphabet Inc.
• Chennai born Sundar Pichai will be the CEO of new Google that is now the subsidiary of Alphabet Inc.
A new parent company launched by Google
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