In an effort to become clearer financial market implements Google a massive reorganization. In addition to starting the new parent company Alphabet and place its search of a company that retains the name of Google, is also implemented personnel changes. Google co-founder Larry Page will become CEO of Alphabet, while Sundar Pichi previously overbased for including Android and Chrome will become CEO of Google.
The other cofounder Sergey Brin gets the title of president Alphabet. Eric Schmidt, formerly chairman of Google, the same mission on the Alphabet.
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– Our model is to have a strong president who is responsible for each business. Sergey and I am at their disposal if needed, said Larry Page in a statement.
The idea of the reorganization is to make it possible for the various units to act more independently. One problem for Google is that although the company is going very well, mainly thanks to the search and ad business, so it may sometimes bad publicity because of more or less wild experiments fail. Despite the failed investments often do not have any major impact on the company’s results so they can give a negative image of the company.
Now the search business could be managed in the best way, in a separate company, while investments in such drones and Internet connections are handled separately. The various business areas will be reported separately. It should silence criticism from financial market that there is no transparency in Google’s business.
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The name of the share will Alphabet instead of Google. Google Shares shall be automatically converted to Alphabet.
The opinions regarding Google’s forgive Alphabets, control is mixed. It is noted that the company is taking a risk by downgrading one of the world’s most famous brands. At best, Google retains the name of its luminosity, while the entire group grows.
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