Monday, August 10, 2015

Google Announces Corporate Restructuring

Google is restructuring under a new parent organization called Alphabet Inc. in order to bring more accountability to its growing number of products, services and projects. Alphabet will be a conglomerate of companies, including a slimmed-down Google, Life Sciences (working on glucose-sensing contact lenses), Calico (working on longevity), etc. It will not be a consumer brand.

Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights. Google will become a wholly-owned subsidiary of Alphabet. Our two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG.

Larry Page will be CEO of Alphabet. Sergey Brin will be President of Alphabet. Sundar Pichai will be CEO of Google.

https://investor.google.com/releases/2015/0810.html

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