The two historic founders of the colossus resigned from the role of a.d. and president of the parent company that controls the search engine
The two broke the news on a blog, stating that the company evolved and matured after its foundation 20 years ago.
"We will be two proud parents" "If the company were a person, it would be a young adult of 21 years and it would be time to leave the nest. We think it is time to take on the role of proud parents, who offer advice and love, but not an annoying daily surveillance ", they wrote. "Sundar – they added – brings humility and a great passion for technology to our users, partners and employees every day. We could not have found better ways to lead Google and Alphabet into the future".
Page and Brin, who together hold over 50% of Alphabet's shares with voting rights, had stood aside for some time, not appearing at important events and leaving Pichai to be the de facto leader of the holding company. The parent company, created in 2015, has grown from 59 thousand to 114 thousand employees and has long-term projects in its portfolio, such as the Wing drone company and the Waymo unmanned car one.
The market reaction After the announcement of the changing of the guard in the parent company, Google shares increased by more than 1% in the negotiations following the closing of the Stock Exchange.