WEB DESK: India-born Sundar Pichai was named CEO of Google on Tuesday by the company’s founders Larry Page and Sergei Brin in course of a re-organization that created a mother company called Alphabet.
Explaining Pichai’s elevation, Page said he (Pichai) has really stepped up since October of last year, when he took on product and engineering responsibility for Google’s Internet businesses.
Pichai, 43, a Chennai native who went to IIT Kharagpur and later to Stanford and Wharton, will take charge of a slimmed down Google.
A straight elevation for Pichai would have meant that two of the world’s five largest companies by marketcap are headed by executives of Indian-origin — Pichai at Google which is ranked #4, and Microsoft, which is ranked # 5, is headed by Satya Nadella.
Page explained that 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, which he (Page) will helm.
Source: Times of India