Google Chief Executive Sundar Pichai will replace Larry Page as CEO of parent Al...
SAN FRANCISCO - Google Chief Executive Sundar Pichai will replace Larry Page as CEO of parent Alphabet Inc, extending a long retreat from public roles and active management by Page and Sergey Brin at the company they co-founded 21 years ago.
But the vision faces unprecedented scrutiny, with governments on five continents demanding better safeguards, less anticompetitive conduct and more taxes from the world’s largest online advertising company. Thousands of employees have protested, and some have even resigned, over ongoing uncertainty over why the “don’t be evil” dogma famous to Google - and once embraced by Page and Brin - appears to be cracking.
Alphabet, which owns more than a dozen companies including self-driving car technology business Waymo and health care software company Verily, emerged in 2015 as part of a restructuring of Google. Page and Brin will remain directors, but will cede their CEO and president titles, respectively, immediately, Alphabet said. The president role will not be filled, the company said, describing the changes as long discussed.
While publicly stepping back, the co-founders still control more than 51% of shares. As of April, Page held 26.1% of Alphabet’s total voting power, Brin 25.25% and Pichai less than 1%.The company had used the separation between Page’s and Pichai’s roles to defend its limited financial disclosures about YouTube and other businesses owned by Google when the practice was questioned by U.S. securities regulators in 2017.
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