Google creates Alphabet and gets new CEO; Larry Page and Sergey Brin to run new holding company

In a blog post, Larry Page, Google’s CEO, announced that he and his Google co-founder Sergey Brin would start a new company called Alphabet and that Sundar Pichai would become the new CEO of Google.

For Google watchers, this scenario has been a long time coming. In multiple interviews, Page has said he admires Warren Buffett’s Berkshire Hathaway, which is essentially a holding company overseeing strong distinct businesses. Some have said that Google is far from Berkshire Hathaway and that the comparison doesn’t make sense.

But it appears that in his announcement today, Page is moving a step toward that model with Alphabet.

Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related. Alphabet is about businesses prospering through strong leaders and independence. In general, our model is to have a strong CEO who runs each business, with Sergey and me in service to them as needed.

“The whole point is that Alphabet companies should have independence and develop their own brands,” he wrote.
Above:  Larry Page, CEO of Google. (Karl Mondon/Bay Area News Group). 

 

 

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