Google CEO Pichai also named chief of Alphabet

Washington DC: Sundar Pichai, Google's CEO will also become the chief of the parent company Alphabet after the internet giant's co-founders Larry Page and Sergey Brin stepped down from their executive roles, making the India-born tech wizard one of the world's most powerful corporate leaders. Page and Brin are stepping down as CEO and President, respectively, of Alphabet, the company announced on Tuesday.

Pichai, 47, the current CEO of Google and a longtime executive at the company, will take over as CEO of Alphabet in addition to his current role.

"I'm excited about Alphabet's long term focus on tackling big challenges through technology. Thanks to Larry & Sergey, we have a timeless mission, enduring values and a culture of collaboration & exploration - a strong foundation we'll continue to build on," Pichai tweeted after the announcement of his elevation.

"The move confirms the ascendancy of Mr. Pichai, as one of tech's most powerful people," The New York Times commented.

"Now he is the sole executive in charge of a company that has giant businesses in search, advertising, maps, smartphone software and online video, as well as a variety of fledgling bets in far-off areas like drone deliveries and internet-beaming balloons," it said.

Considered as a significant shakeup in the Silicon Valley company, the shuffle comes at a time when Google is facing mounting scrutiny over its size, data privacy practices and potential impact on society.

With Alphabet now well-established, and Google and 'Other Bets' operating effectively as independent companies, it's the natural time to simplify our management structure, the two Google co-founders, who are both 46, wrote in a public letter.

"We've never been ones to hold on to management roles when we think there's a better way to run thecompany," they said.

"And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet's investment in our portfolio of Other Bets," said Page and Brin.

The co-founders will continue to serve on Alphabet's board of directors.

"We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders. In addition, we plan to continue talking with Sundar regularly, especially on topics we're passionate about!" they wrote.