Google Inc is to rebrand itself as Alphabet Inc, with all Google shares to be exchanged like for like to Alphabet shares (although they’ll continue to trade on the Nasdaq as GOOGL and GOOG).
Google as we know it today (the search engine that is) will continue as one of the brands under the new Alphabet holding company.
Alphabet will be a collection of companies and the largest will be Google. This newer Google is a bit slimmed down, with the companies outside Google’s main internet products contained in Alphabet instead. This will include companies such as Life Sciences (that works on the glucose-sensing contact lens), and Calico (focused on longevity). Alphabet will also include X lab, which incubates new efforts like Wing drone delivery and the growing investment arms, Ventures and Capital.
Sundar Pichai will replace Larry Page as CEO of Google. Larry Page will become Alphabet’s CEO with Sergey Brin serving as President and Eric Schmidt as Executive Chairman. The new model means each Alphabet business will have a strong CEO with Larry Page and Sergey Brin in service to them as needed.
You can read the full announcement blog post from Larry Page on the Google Blog.
