sergey brin larry page

Google cofounders Larry Page and Sergey Brin are stepping down from their day-to-day management roles, they announced on Tuesday.
Sundar Pichai will take over as Alphabet CEO, while maintaining his current role as Google CEO.
Despite the change, Page and Brin remain firmly in control of Alphabet, as their combined voting power gives them a majority stake in the company.

Google cofounders Larry Page and Sergey Brin are stepping down from their management roles — but they won’t lose control of the company.

Google-parent Alphabet announced in a letter to shareholders on Tuesday that Page and Brin would leave their respective roles as CEO and president of the company. Sundar Pichai, the CEO of Google, is taking over the CEO role of the parent company, Alphabet, while maintaining his role as Google CEO.

Despite the change, however, Page and Brin will remain firmly in control of Alphabet.

According to company filings, Page and Brin each own 25.9% and 25.1% of Alphabet’s voting power, respectively, accounting for over half of the company’s controlling shares. That’s because of Alphabet’s super-voting structure, which gives 10 votes per share of its Class B stock. Google confirmed to CNBC on Tuesday that …read more


Source:: Businessinsider – Finance

      

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *