Google just announced a major change to the company structure; a holding company called “Alphabet” will be created and Google and other related companies will fall under the umbrella of Alphabet as the subsidiaries. Moreover, (great news for Google shareholders) the shareholders of Google will get one Alphabet share for every Google Share they previously owned.
Other than that, Sundar Picnai will be the new CEO of Google while Larry and Sergey the CEO and the president of the newly established holding company. Upon restructuring, Alphabet will become the publicly-traded company with all shares retaining the same rights and value as current Google shares.
“We’ve long believed that over time companies tend to get comfortable doing the same thing, just making incremental changes. But in the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant.”
Quote by Google co-founder, Larry Page.
The founders of Google certainly have huge dreams and visions for Alphabet. In a recent interview, Mr. Page revealed that Alphabet will invest in projects that are truly revolutionary to mankind, or in other words, revolutionize/improve the world through business.
Wish to know more? Read the Official Blog of Google.